Report: N.J. residents pay highest premiums on U.S. marketplace for health insurance
JUNE 17, 2014, 7:32 PM LAST UPDATED: TUESDAY, JUNE 17, 2014, 7:32 PM
BY LINDY WASHBURN
STAFF WRITER
THE RECORD
New Jersey residents who bought health insurance on the federal marketplace paid the highest premiums in the nation, even after the tax subsidies provided under the Affordable Care Act, a report released Tuesday by the federal government said.
The average premium after tax credits was $148 a month, compared with $82 a month in the 36 states that relied on the federal marketplace. Not included in the report are states with their own exchanges, among them California and New York.
The report analyzed 2014 premiums. Next year’s premiums are to be submitted to the state Insurance Department later this month.
“It will be critical that any increases be kept to a minimum,” said Raymond Castro, an analyst with New Jersey Policy Perspective. The new rates will apply not only to those eligible for subsidies, but also to those who buy individual plans outside the marketplace.
This year, New Jersey had less competition than most other states for customers who bought coverage through the marketplace. Only three insurance companies issued plans, compared with as many as 11 companies in other states, the report said. That tended to make premiums higher in New Jersey.
– See more at: https://www.northjersey.com/news/report-n-j-residents-pay-highest-premiums-on-u-s-marketplace-for-health-insurance-1.1036870#sthash.9I9pfLsM.dpuf
NJ residents also get to subsidize essentially free healthcare for all of our teachers and public safety officials, including $15 Viagra prescriptions for tens of thousands of of 50-65 years olds living on risk-free pensions, too. Lucky us.