California's new health insurance exchange, Covered California, has launched an online tool that lets consumers figure out their coverage options and compare premium rates from different health insurers.
The tool also lets state residents know if they qualify for federal subsidies to help cover the cost of their insurance, based on their household income and size. Consumers input their household size, income, the ages of household members and their location to view their options.
According to the comparison tool, two adults aged 38 and 40 with two children and a household income of $65,000 in Los Angeles could pay a monthly premium ranging from $284 with L.A. Care Health Plan to $374 with Anthem Blue Cross for bronze-level coverage. Those premiums take into account a $300 monthly subsidy the family is eligible to receive.
Covered California has signed contracts with 12 health insurers confirming their participation in the new exchange. Although the exchange is due to open for enrollment Oct. 1, Covered California may not be fully operational at that time, according to a Los Angeles Times report. It wasn't clear at the time whether the site would be ready by the deadline, Covered California Executive Director Peter Lee told the Times. If the site isn't up and running in October, consumers will have alternate ways to sign up through enrollment counselors, agents and call centers.
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