In 2019, Kentucky had an uninsured tally of 275,700 people, according to a report from the Kaiser Family Foundation (KFF). That’s about 6.4% of the state’s population. KFF looked again at the uninsured rate this year and found that of the people still without health insurance in Kentucky, around 143,600 of them could qualify for marketplace coverage.
Marketplace health insurance is comprehensive. It covers pre-existing conditions and a set of 10 essential health benefits, like maternity care and prescription drugs. It also adheres to the rules of the Affordable Care Act (ACA), the current law of the land when it comes to healthcare.
Along with these consumer protections, the ACA created premium subsidies to help more people afford health insurance. These subsidies, aka tax credits, are available to anyone earning 100% to 400% of the federal poverty level.
KFF estimated that of the marketplace-eligible people in Kentucky who still didn’t have health insurance in 2021, around 26% of them could get a bronze plan for free thanks to these premium subsidies.
The nonprofit also calculated average premiums based on metal tier for this year. They found that the average lowest cost health plan in each tier was as follows: $342 for bronze, $455 for silver and $579 for gold. These are averages, of course, and they don’t include any tax credits that might be available based on income.
If you qualify for a premium subsidy in Kentucky, then you may save money on your monthly premiums.
Using data from our own marketplace, we estimate that a 40-year-old in Elizabethtown, KY, with an income of $37,000 a year could find a bronze plan for just over $188 a month. That includes subsidies to lower the cost.
How much you pay for health insurance depends on where you live, as does plan availability. There are at least two insurers in Kentucky in 2021, including Anthem and CareSource.
Sources
Kaiser Family Foundation, “Health Insurance Coverage of the Total Population”
Kaiser Family Foundation, “Marketplace Eligibility Among the Uninsured: Implications for a Broadened Enrollment Period and ACA Outreach” (January 27, 2021)
Kaiser Family Foundation, “Average Marketplace Premiums by Metal Tier, 2018-2021”
Kaiser Family Foundation, “Insurer Participation on the ACA Marketplaces, 2014-2021” (November 23, 2020)