HHS: Most Uninsured Could Get Coverage Under PPACA For Less Than $100

Of the 41.3 million uninsured people eligible for coverage under the Patient Protection and Affordable Care Act, 56 percent could qualify for the Children's Health Insurance Plan, Medicaid or tax credits to purchase coverage for $100 or less per person each month through the new exchanges in 2014, according to an HHS report.

That includes 49 percent of the uninsured eligible for the health insurance exchanges. Of those 10.8 million Americans, 6.4 million could pay $100 or less per person per month for the second-lowest-cost silver plan in their state's marketplace in 2014, taking into account available premium tax credits. Another 4.3 million could pay $100 or less by using their tax credits to purchase the lowest-cost bronze plan available, according to the report.

Additionally, 30 percent of the eligible uninsured or 12.4 million people will qualify for Medicaid or CHIP in states that have chosen to expand their Medicaid programs. If enrolled in Medicaid or CHIP next year, those people will pay either no monthly premium or only a nominal premium.

If all states chose to expand their Medicaid programs under the healthcare reform law, the portion of uninsured people potentially eligible for coverage for $100 or less per month would go up to 78 percent, according to the report. In states that don't expand Medicaid, 40 percent of the uninsured eligible for Medicaid, CHIP or the exchanges will have the ability to pay $100 or less per month for coverage.

The HHS report follows a recent Kaiser Family Foundation report that examined data from the District of Columbia and 17 states that have publicly released premium rates for their exchanges. Kaiser found premiums are generally lower than the latest Congressional Budget Office projections, which suggest a $320 per month premium for a 40-year-old in the second-lowest-cost silver plan.

Furthermore, Kaiser has found 48 percent of people who currently buy their own insurance would be eligible for tax credits to offset their premiums on the new exchanges. That percentage doesn't include more than 1 million people currently purchasing individual insurance who will qualify for Medicaid in 2014.

Premium subsidies — distributed in the form of federal tax credits — will be available for people purchasing their own coverage through the new exchanges who have incomes from 100 percent to 400 percent of the poverty level, which amounts to $24,000 to $94,000 per year for a family of four in 2014.

More Articles on Health Insurance Exchanges:
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Study: Health Exchange Premiums Lower Than Expected
Report: 48% Buying Own Insurance Will Qualify for PPACA Subsidies