Insurance terminology confusing to many
June 18, 2014
HHS report: had affordable premiums, was competitive
June 20, 2014
Show all

Healthcare premiums down to $100 or less in 2014

The cost of monthly healthcare premiums recently saw one of its biggest price decreases after a new Department of Health and Human Services report showed that 70 percent of customers who bought in on the federal exchange for 2014 only saw premiums at $100 or less a month.

The average monthly premium was once $346 before tax credits. It has now dropped to $82 across all plan types, with the most popular coming from, which only costs an average of $69 a month.

Of the people receiving less costly monthly premiums, 90 percent of the customers had purchased their plans off the government healthcare website.

“Now that (insurers) have more information, there’s going to be more accurate pricing which will help” improve rates for those who do and don’t receive federal subsidies, said Bryce Williams, manager director of benefits at Towers Watson, a consulting firm, according to USA Today.

Through the, 96 percent of customers had the ability to choose from between 2 and 11 different insurers, which led to better decisions for those who were struggling to find an affordable plan within their state, the source reported.

Share this:
Erin Woulfe
Erin Woulfe
Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002. “I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization or just providing tips and how-to’s to help them make their job easier.”

Leave a Reply

Your email address will not be published. Required fields are marked *