HHS: Premiums under ObamaCare lower than expected

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New York is the latest state to report that premiums for plans offered through its exchange would be cheaper than expected — and, on average, 50 percent cheaper than comparable policies available in the state today.

California also reported lower-than-expected premiums for the policies sold through its exchange. Although some consumers in the state will see their premiums rise, bare-bones policies are available for less than $200 per month — well below initial estimates.

The exchanges will primarily serve people who buy insurance on their own, rather than purchasing it through an employer. Most consumers will receive tax subsidies to help cover the cost of their premiums.

Eleven states have released their rate information for next year — the first year the exchanges are set to be operational.

Six states have released rate filings for plans available to small businesses through a separate exchange. Those policies are also an average of 18 percent cheaper than existing coverage options, HHS said.