Health insurance for the masses  continues to be a good deal for most, at least when coverage policies are judged by their premiums.

A new U.S. Department of Health and Human Services report says that users of the insurance site “are actively shopping and saving money,” a sign that Americans are becoming increasingly savvy about choosing health insurance.

The study showed that premiums remain affordable for most — the average premium was $408 — and that 83 percent of those using the exchange system are qualifying for premium tax credits.


The average value of the credits was $294 per person per month in 2015, the report said, and the average post-credit premium was $113 per month — a 72 percent reduction.


Other highlights from the report:

• 3.6 million Americans reenrolled in exchange insurance in 2015, and 60 percent picked a different plan than they chose in 2014.

• Reenrollees who switched plans saved an average of $43 a month.

• Nearly 70 percent of enrollees had a premium plan option of less than $75 a month.

• 60 percent had a $50-per-month premium option.

• Nearly 2.5 million new plan enrollees joined the Obamacare ranks in 2015.

Of course, low-cost  premium plans have been shown in other research to be quite costly to consumers over time, because they tend to have high deductibles and greater out-of-pocket costs. Government plan designers are working to solve that conundrum.


by Dan Cook Reprinted from BenefitsPro January 25, 2016