Pa. health insurance marketplace may offer lower rates
Written by Victoria Scialfa on April 23, 2021
Pa. health insurance marketplace may offer lower rates
By Brett Sholtis / Transforming Health
April 23, 2021
Last September the state launched its own health insurance marketplace as part of the Affordable Care Act.
A new subsidy from the federal American Rescue Plan means people should see lower rates…
Pennsylvania Insurance Commissioner Jessica Altman says there are still hundreds of thousands of people in the state who do not have health insurance.
Altman understands that money can be a factor, and urges people to check the new insurance rates, saying a new subsidy is lowering premiums by 30% or more for many people.
“And the lower your income, the lower the cost of your monthly payment, to the point where many Pennsylvanians may be eligible for a zero dollar monthly payment,” Altman says.
The state-run insurance platform is known as “Pennie.” Its Executive Director Zachary Sherman says the revamped rules also get rid of a notorious problem known as the “donut hole,” in which people who earned just above a certain amount didn’t get any subsidy, facing high premiums.
With Pennie, households will pay no more than 8.5% of their annual income for health insurance.
People can sign up at Pennie.com now through Aug. 15.
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