WASHINGTON - President Barack Obama's new health coverage for uninsured Americans with health problems won't be cheap - premiums averaging $300 to $600 a month in the largest states, according to a government website that went live Thursday.
From cheaper to most expensive, premiums will range from a $140 a month to as much as $900, Richard Popper, deputy director of a new insurance office at the federal Health and Human Services department, said Wednesday.
The range is so wide because premiums will be keyed to standard individual health insurance rates in each state, which can differ dramatically because of medical costs and the scope of coverage. Also, older people will pay more.
“There are going to be meaningful premiums that are going to be required to stay in this plan ... in the hundreds of dollars,” said Popper, with the Office of Consumer Information and Insurance Oversight.
Estimates on HealthCare.gov show premiums for a 50-year-old in Florida will be $552 to $675 a month and in New York the cost will average from $400 to $600. In Washington, plans will cost from $177 to $1,577 per month. In many states, consumers can start enrolling immediately.