In 2019, Virginia had an uninsured population of nearly 655,000 people, which represents 8% of the state’s population. That’s according to data from Kaiser Family Foundation (KFF), a nonprofit that tracks healthcare policy. When KFF looked at the uninsured rate again this year, they found that of the people without health insurance in Virginia, about 318,600 of them would qualify for marketplace coverage.
Marketplace health insurance is the kind that’s regulated by the Affordable Care Act (ACA). Among other things, these health plans cover 10 essential health benefits and pre-existing conditions. Essential benefits include, for example, preventive care, maternity care, prescription drugs and hospitalization.
The ACA also established tax credits, known as premium subsidies, to offset the cost of health insurance for people with low to moderate incomes. Available to people with incomes of 100% to 400% of the federal poverty level, these subsidies help lower monthly premiums.
In fact, KFF estimates that about 22% of the uninsured, marketplace-eligible people in Virginia could get a bronze plan for free thanks to subsidies. Most people qualify for subsidies on the marketplace.
Kaiser Family Foundation also looked at premiums in Virginia in 2021. They calculated that average lowest cost plans by category were: $358 a month for bronze plans, $470 a month for silver and $464 a month for gold.
These lowest cost averages don’t include tax credits, which could lower the cost if you qualify for one.
Based on info from our own marketplace, a 40-year-old living in Roanoke, VA, with an annual income of $37,000 could get a bronze plan for just over $141 a month. That estimate does include a subsidy.
Of course, what you pay for health insurance in Virginia depends on where you live in the state, as do your options for health plans. There are at least 8 health insurers offering marketplace coverage in Old Dominion in 2021. Among them are UnitedHealthcare, Anthem, Oscar, Cigna and CareFirst.
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)