Nearly half of young Americans eligible to buy insurance on HealthCare.gov could pay $50 or less a month for coverage, the U.S. Department of Health and Human Services said in a report released Monday. HHS is touting the affordability of insurance on the exchanges in part because young adults are crucial to making the health care reform law’s finances work.
The conclusion was based on data from the 30-plus states where insurance is being sold through HealthCare.gov, for adults ages 18 to 34, who qualify for tax credits through the law. The analysis found that 46 percent could pay $50 or less for a bronze plan (which covers 60 percent of costs), and 66 percent could pay $100 or less.
“The health care law is making health insurance more affordable for young adults,” HHS Secretary Kathleen Sebelius said in a statement.
The administration has said it hopes to enroll 2.7 million age 18 to 34 (out of 7 million total) in the first year.