This is the seventh year of open enrollment for the Kansas health insurance marketplace created by the Affordable Care Act (ACA). The more than 80,000 Kansans who are likely to buy insurance on the marketplace will find that: there are more choices of plans available for 2020; premiums are relatively stable compared to last year; and out-of-pocket costs have gone up again. How much are monthly premiums in different areas of the state? And how could Advance Premium Tax Credits and other assistance reduce costs for low- to middle-income Kansans? Find the answers to these and other important questions in our new brief, 2020 Affordable Care Act Health Insurance Marketplace.
Key points from the brief include:
- Consumers shopping for a 2020 plan on the Kansas marketplace are able to choose from among 82 health insurance plans offered by five insurers.
- Following the trend from previous years, all of the plans offered for 2020 have a “narrow network” of providers which generally covers only services provided in-network, except in an emergency.
- The average monthly premium decreased slightly in Kansas for 2020 to: $426 for a single adult age 27; $1,660 for a family of two 40 year-old parents with two children; and $2,205 for a 60 year-old couple.
- Advance Premium Tax Credits (APTC) may reduce the cost of premiums paid by consumers with family income between 100 and 400 percent of the federal poverty level (FPL).
- Out-of-pocket costs continue to increase. While consumers with family income less than 250 percent of FPL receive additional assistance to reduce out-of-pocket costs, a family of four with an annual income just above 250 percent FPL ($64,375 in 2019) could be expected to pay up to $16,300 in out-of-pocket costs in addition to their premiums.
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The Kansas Health Institute supports effective policymaking through nonpartisan research, education and engagement. KHI believes evidence-based information, objective analysis and civil dialogue enable policy leaders to be champions for a healthier Kansas. Established in 1995 with a multiyear grant from the Kansas Health Foundation, KHI is a nonprofit, nonpartisan educational organization based in Topeka.