Nearly 11% of people in South Carolina still lacked health insurance as of 2019, according to data from the Kaiser Family Foundation (KFF). That amounts to just over 539,000 people without coverage. When the nonprofit analyzed the data again in 2021, they found that of the people without health insurance in South Carolina, just over 301,000 of them would qualify for marketplace coverage.
Marketplace health insurance covers 10 essential health benefits, like preventive care, prescription drugs and mental health care. It’s also regulated by the Affordable Care Act (ACA), which, among other things, ensures coverage for people with pre-existing conditions.
KFF estimates that of the people without health insurance in South Carolina who qualify for marketplace coverage, about 40% could get a bronze plan for free — meaning no monthly premium.
That’s thanks to another key provision of the ACA: tax credits to lower the cost of health insurance. These credits, available to people earning 100% to 400% of the federal poverty level, help low- and middle-income people afford coverage.
Premium tax credits are also called subsidies, and most people qualify for them.
Health insurance on the marketplace can still be costly for some. In 2021, KFF looked at premium rates in South Carolina and found that the average lowest cost plans had premiums of $328 a month at the bronze tier, $469 for silver and $513 for gold. These averages don’t include subsidies.
Using our own marketplace, we found that a 40-year-old in Charleston, SC, with an annual income of $37,000 a year could buy a bronze plan for just under $160 a month. This does include premium subsidies.
How much you pay for coverage depends on where you live, as does the plan options available to you. There are at least four insurers offering marketplace health insurance in South Carolina in 2021, including Bright Health, Molina, Centene and BlueCross BlueShield of South Carolina.
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)