Obamacare plan choices depend on income
As the enrollment deadline nears, many people are still scrambling to sort out and sign up for health coverage under the Affordable Care Act, according to recent data.
Among the three types of plans available—bronze, silver and gold—silver is the most popular because if its affordable premiums, according to HealthMarkets Insurance Agency.
Lower-income Americans who make between 100 percent and 250 percent of the federal poverty level are more likely to go for a bronze plan, which has the lowest premiums but much higher deductibles.
About 45 percent of households at that income level, which starts at $11,490 for an individual or $23,550 for a family of four, have chosen a bronze plan, according to HealthMarkets data. About 30 percent of enrollees in that group have selected a silver plan, the firm said, which acts as a broker for about 120 health insurers.
More affluent consumers tend to choose either gold plans under the ACA or plans that aren't offered on the state or federal health insurance exchanges but by brokers and insurers, said Mike Stahl, senior vice president at HealthMarkets.
Since the beginning of October, about 75 percent of people enrolling via HealthMarkets signed up for a plan that's not on the exchange, according to the firm’s enrollment data.
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