Today, the individual market covers 5.7 percent of individuals under the age of 65, and 71 percent of them will be able to get more affordable, comprehensive coverage through the health insurance marketplaces, according to a new Families USA publication.
The average tax credit for this population will actually cut family premiums by 66 percent! Among the 5.7 percent non-elderly Americans in the individual market today, only 0.6 percent may lose their current coverage and will not be eligible for financial assistance through the health insurance marketplaces. But even among these individuals, some will be able to keep their coverage if their insurer decides to renew their current policy per new guidance from the Administration. But if they do in fact lose their current coverage, they will have the option to shop for insurance through the health insurance marketplaces to find a plan that meets their needs and their budget.
And let’s not forget — 45 percent of individuals with coverage in the individual market rate their insurance as “fair” or “poor,” which is a substantially lower rating compared to other health coverage programs. Because of the Affordable Care Act, individuals will have access to more affordable, comprehensive coverage.