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Saturday, March 14, 2015

This State Offers the Best Obamacare Plans

A federal report recently released showed that the state of Alabama offers the best prices on health care insurance under Obamacare. Alabama is also among the top 10 states that have the largest percent of residents qualifying for subsidies.

How low is low?

According to the U.S. Department of Health and Human Services, in Alabama, 89 percent of residents qualify for health insurance subsidies. After applying subsidies, the average monthly health insurance premium paid is only $88.

Reason for low cost

Subsidies are based on income level. The lower the income, the higher the subsidy. Alabama has some of the lowest wages in the country. As a result, its residents qualify for more government health care assistance. To compare, Alabama's average monthly health insurance cost for those receiving subsidies is $88, compared to qualifying residents of New Jersey who pay an average of $164.

The federal report also noted that most Alabama residents who purchased health insurance through the government exchange and qualified for subsidies stayed with the plan they signed up for the previous year when it came time to re-enroll.

Other states with very low health insurance prices include Mississippi, Georgia, Missouri, Florida and South Carolina.

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