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Press Release

U.S. Rep. Castor: Lower-Than-Expected Health Insurance Premiums Great News for Florida Families

Competition, Choice Driving Down Rates in Tampa Bay area

Florida families and individuals will benefit from a broad range of new health insurance options and lower than expected rates in the new Health Insurance Marketplace that will open next week. Rates in Florida are lower than expected and new tax credits for middle class families will help make health insurance even more affordable, according to today’s announcement by the U.S. Department of Health and Human Services. "This is great news for our neighbors across the Tampa Bay area and all Floridians. Low rates and a wide range of choices will be a godsend to families.
Florida families and individuals will benefit from a broad range of new health insurance options and lower than expected rates in the new Health Insurance Marketplace that will open next week, according to today’s announcement by the U.S. Department of Health and Human Services. In addition, new tax credits for middle class families will help make health insurance even more affordable. "This is great news for our neighbors across the Tampa Bay area and all Floridians. Low rates and a wide range of choices will be a godsend to families.

“Despite the scare tactics from Republican politicians, the Affordable Care Act is working to provide affordable, quality care and end discrimination against our neighbors with cancer, diabetes, and other chronic conditions. Better access to affordable health insurance is especially important in Florida where nearly 25 percent of Floridians do not have health insurance coverage and higher costs for the uninsured often are shifted to people who do have insurance."

Today’s report reveals that individuals in Florida will have an average of 102 qualified health plan choices, and all must cover those with pre-existing conditions and provide free preventive care. 

Under the Affordable Care Act, premium tax credits will further bring down costs for our neighbors. Nationwide, nearly 60 percent of the 41.3 million eligible uninsured may qualify for Medicaid, CHIP or tax credits to purchase coverage for less than $100.

A 27-year-old with an income of $25,000, for the second lowest silver plan, he/she will pay $145 after premium tax credits. For the lowest bronze plan he/she will pay $96 after the credit. In the Tampa/St. Petersburg/Clearwater area, this individual will pay $145 after the credit for the silver and $113 for the bronze. 

A family of four with an income of $50,000 will pay $282 for the second lowest silver plan after the credit and $165 for the lowest bronze after the credit.

“The Affordable Care Act not only provides more affordable, quality health care options for Floridians, it provides important patient rights and protections, such as making it illegal for health insurance companies to arbitrarily cancel your health insurance just because you get sick,” Rep. Castor said. “In addition, as we saw last week with the announcement of 1,000 new hires by HealthPlan Holdings, the Affordable Care Act is creating jobs right here in our community.” 

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