Obamacare update: Oklahomans paid $75 a month for health insurance after tax credits

Oklahomans who used tax credits to buy health insurance through the federal marketplace paid an average premium of $75 per month, according to a report released Tuesday by the U.S. Department of Health and Human Services.
FROM STAFF REPORTS Published: June 18, 2014
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Oklahomans who used tax credits to buy health insurance through the federal marketplace paid an average premium of $75 per month, according to a report released Tuesday by the U.S. Department of Health and Human Services.

“What we’re finding is that the marketplace is working for Oklahomans,” said Health and Human Services Secretary Sylvia Burwell in a released statement. “Consumers have more choices, and they’re paying less for their premiums. When there is choice and competition, everybody benefits.”

The federal health insurance marketplace was created through the Affordable Care Act, the federal health reform law passed in March 2010.

About 79 percent of Oklahomans who selected plans through the marketplace used tax credits.

Overall, Oklahomans paid below the national average, which was $82 among states with federally facilitated marketplaces.

In Oklahoma, 74 percent of enrollees who selected marketplace plans with tax credits had premiums of $100 a month or less, and 47 percent had premiums of $50 a month or less after tax credits, according to the report.

On average, monthly premiums fell 73 percent for Oklahomans who selected plans with tax credits, dropping the cost of the average monthly premium from $277 before tax credits to $75 after tax credits across all plan types.

Oklahomans who selected silver plans — the most popular plan type — with tax credits paid an average premium of $72 per month, according to the report.