What is Affordable Health Insurance in Atlanta, GA?

Jenifer Dorsey
April 30th, 2019 November 15th, 2017 |
Read time: 9 minutes

A closer look at 2018 premium rates and subsidies

When it comes to affordability, health insurance in The Peach State may be more cost-friendly than you may think. On one hand, rates for the most popular individual health plans increased an average of 46 percent in Georgia—compared with 32 percent nationwide.1 On the other hand, a side effect of these rate hikes, is that some Georgia residents may have access to no-cost bronze plans—that’s right, essentially “free” health insurance.2

Could you qualify for “free” health insurance?

Is this possible, and is it too good to be true? Yes, and no.

Let’s start with a quick refresher: Premium tax credits are available to individuals and families who purchase ACA plans through a state-based or federally facilitated exchange and have a household income of between 100 and 400 percent the federal poverty level (FPL).3

In the first installment of our “Let’s Get Local” series, we explained how premium tax credits—the income-based subsidies that help lower monthly health insurance rates—are calculated based on silver plan rates. As a result of this year’s disproportionate increases between bronze and silver plan premiums, subsidies may go further for some consumers. In fact, many could pay little or nothing for a bronze plan.4

The tables below show premiums by income and age bracket for the lowest-cost bronze plans available in Fulton County and indicate how subsidies may lower them.

Lowest-Cost Bronze Plan in ZIP Code 30309

Monthly Premiums, Advanced Premium Tax Credits (APTC), and Affordability Thresholds

Income5 Estimated APTC6 Premium after APTC7 Plan Deductible (Single)
100% FPL $12,060 $361.74 $0 $6,550
200% FPL $24,120 $272 $83.16 $6,800
300% FPL $36,180 $111 $244.16 $6,800
400% FPL $48,240 $15 $340.16 $6,800
Above 400% FPL $48,241 $0 $355.16 $6,800
Income Tax Credit Premium Plan Deductible (Single)
100% FPL $12,060 $427.46 $0 $6,550
200% FPL $24,120 $245 $74.68 $6,800
300% FPL $36,180 $184 $235.68 $6,800
400% FPL $48,240 $88 $331.68 $6,800
Above 400% FPL $48,241 $0 $419.68 $6,800
Income Tax Credit Premium Plan Deductible (Single)
100% FPL $12,060 $660.13 $0 $6,550
200% FPL $24,120 $602 $46.12 $6,800
300% FPL $36,180 $441 $207.12 $6,800
400% FPL $48,240 $345 $303.12 $6,800
Above 400% FPL $48,241 $0 $648.12 $6,800

“Free” health insurance? What’s the catch?

As you may notice while shopping around, the rule of thumb tends to be a lower monthly premium translates into a higher plan deductible.

For the lowest-cost bronze plan mentioned above, the annual deductible for a single individual ranges from $6,650 to $6,800.8 That reflects the amount you would pay out of pocket before your benefits fully take effect. So, while your monthly premium may seem relatively affordable—especially if it is free—you may have concerns about paying for healthcare should you actually need to use your plan.

That’s where additional health benefits come in. You may want to apply the money you save in monthly premium toward additional, low-cost health plans that can help with unexpected medical expenses. Three products you may want to consider as you make decisions about your family’s 2018 benefits include:

Supplemental plans – Fixed cash benefits for covered accidents and illnesses; use them to pay your deductible, household expenses and more.

Find out more about supplemental benefits

Telemedicine – Low-cost telehealth consultations 24 hours a day, 365 days a year, wherever you’re connected.

Get Telemedicine for as little as $12.50/month

Hospital plans – Hospital, surgical and critical illness benefits that provide fixed-dollar reimbursement for covered medical expenses at specific durations.

Learn about Hospital Plans

Find your best benefits blend! A licensed producer can assist you in finding the right ACA plan as well as other affordable options.

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Originally Published On November 15th, 2017
Independence American Insurance Company and/or Madison National Life Insurance Company, Inc. may underwrite the products referenced on this website. Legal Disclaimers.