What does affordable health insurance mean in 40 US cities?
The Affordable Care Act (Obamacare) deems health insurance to be affordable if it cost a person or family less than 8% of their yearly household income.
Under Obamacare, anyone with access to affordable health insurance (8% of household income, or less) had to buy it, or pay a tax penalty.
This rule became known as Obamacare’s “individual mandate.”
The individual mandate went into effect in 2014.
Fast forward to 2017.
An eHealth study found that health insurance was unaffordable (greater than 8% of median household income), in 47 of 50 major U.S. cities, for the average family of 3.
In 2018, the Trump administration eliminated the individual mandate penalty
What’s the impact?
People who buy their own health insurance, now have the option to purchase lower-cost coverage, like short-term health insurance.
What is short-term health insurance?
Short-term health insurance is coverage you can buy for a limited period of time with limited benefits…
How limited is the period of time? Currently 3 to 12 months in most states… But new regulations passed in August 2018 allow some short-term plans to renew up to 3 years.
How limited are the benefits? Every short-term plan is different, but here are some of the major differences in benefits between short-term health insurance and Obamacare…
…here are some of the major differences in benefits between short-term health insurance and Obamacare…
Applications can't declined for pre-existing conditions
Limited Rx Coverage
Applications CAN be declined for pre-existing conditions.
Although benefits are limited, prices are much more affordable…
According to a new eHealth study*, these cities have the most affordable Obamacare health insurance plans
*Cities with the most affordable Obamacare plans for families…
Beverly Hills, CA
San Francisco, CA
Little Rock, AR
In the ten most affordable cities for short-term coverage, the lowest priced short-term plan with a $5,000 deductible cost 1.8 percent of the state’s median income, on average.
Cities with the most affordable short-term plans:
Little Rock, AR
Des Moines, IA
St. Louis, MO
Grand Rapids, MI
Find comprehensive major medical (Obamacare) coverage and affordable short-term health insurance coverage at eHealth.com