The federal government says 150,826 Louisiana residents have signed up for health coverage through the Marketplace created by the Affordable Care Act. Christen Young, with the Centers for Medicaid and Medicare Services says one key driver of affordability in the marketplace is financial assistance and 82% of Louisiana consumers signed up so far, have qualified for tax credits.
“The average tax credit lowers premiums by $386 a month. That works out to an annual tax break of $4,600 a year,” Young said.
Young says most people can find a plan for less than $75 per month. Senior Counselor to the Secretary at Health and Human Services, Avida Aron-Dine, says lawmakers have made claims that the Affordable Care Act is in a death spiral. But she says the facts show that’s absolutely not the case.
“Today’s data show that this market is not just stable, it’s currently on track for growth. So while they were always nonsense, today we can official pronounce death spiral claims dead,” Aron-Dine said.
The report finds there are 23,912 new Louisiana consumers in the Marketplace, despite talk of repealing and replacing Obamacare. Aron-Dine says the data shows the Marketplace is poised for continued success, without policy interference. And she also expects we will not seek see huge spikes in premiums going forward.
“The significant premium increases that we saw for 2017 seem to have been a onetime adjustment for initial underpricing and for the phase out of the temporary reinsurance program,” Aron-Dine said.