Obamacare Mississippi

The Obamacare Mississippi state exchange is run by the federal government. This is because Mississippi’s government has opted out of running their own exchange. So, the Federal government runs the Obamacare Mississippi exchange for them.

obamacare-mississippi

The healthcare marketplace in Mississippi is responsible for signing up the people who lack healthcare insurance. The Obamacare Mississippi exchange is a place where private health insurance polices–that have met Affordable Care Act regulations–can be purchased.

Mississippi is one of 36 states that will let the Federal government run their healthcare marketplace. The Obamacare Mississippi state exchange for Mississippi residents can be found at: Healthcare.gov.

For a 27 year old (cheapest age) the weighted average in Jackson, MS (monthly premiums before federal tax credits) is:

  • Cheapest Bronze plan costs $199
  • Cheapest Silver plan costs $226
  • Cheapest Gold plan costs $258
  • Cheapest catastrophic plan (under 30) is $150

The Mississippi healthcare exchange is simply a store where you can compare/buy Obamacare plans. 85% of Americans already have insurance, and have little need for the healthcare exchange (other than to shop for a cheaper plan). 15% of Americans don’t have insurance. These are the ones who really need to use the healthcare exchange to get coverage.

How Do I Sign Up For Obamacare In Mississippi

How do I sign up for Obamacare in Mississippi?

Sign up for Mississippi Obamacare by going to Healthcare.gov. You can get healthcare on the Obamacare Mississippi state exchange 3 ways:

Calling 800-318-2596 (TTY:1-855-889-4325) is the phone number for individual Obamacare help. Small business can call 800-706-7893 (800-706-7915). You can go Find Local Obamacare help here.

Open enrollment begins October 1st of each year. Healthcare coverage begins January 1st. You must apply for healthcare via open enrollment by March 31st. You must have health coverage or pay a penalty due to the Individual Mandate. By applying for coverage, you will find out if you qualify for:

  • Medicaid
  • Subsidized Private Insurance Plan
  • Private Insurance Plan (likely cheaper premiums than private offerings)

Obamacare For Mississippi Residents

Obamacare for Mississippi residents can be bought at Healthcare.gov. You can go there to see what plans you qualify for, and how much they cost. Mississippi residents with lower incomes are eligible for subsidies or Medicaid.

Do I Need To Sign Up For Obamacare?

To answer the question, “Do I need to sign up for Obamacare?” consider the following:

  • If you have insurance through your employer or government, you don’t have to do anything with Obamacare. See how Obamacare affects you here.
  • If you don’t have insurance–and you are low income ($15,282 for an individual)–you may qualify for the expansion of Medicaid (see below).
  • If you don’t qualify for Medicaid, you will likely qualify for subsidies to buy health insurance when you sign up on the state exchange at Healthcare.gov.

Obamacare Mississippi Rates

Obamacare Mississippi rates vary by the same factors that exist in most states. In Mississippi, the rate you pay for health insurance varies by:

  • your age
  • your income
  • where you live in Mississippi
  • if you smoke
  • the level of coverage you pick

Federal tax credits will help people with low to mid incomes pay for heath insurance. Obamacare Mississippi tax credits are the same as in other states. The only difference is how the poverty level is defined in each state.

Mississippi rates are also determined by insurance companies who divide Mississippi into regions when setting the rates. Mississippi rates are coming in higher than expected. Mississippi doesn’t have much competition. This is due to how negatively Mississippi has responded to Obamacare. The differences between high and low rates for healthcare insurance in each region include:

  • regional differences in medial costs
  • relative health and age of the population
  • disease/mortality rates of the region
  • competition between insurers
  • More insurers leads to lower rates

Mississippi Premiums

Mississippi premiums for insurance are coming in higher than expected. The best way to get lower premiums is to qualify for Medicaid. The next best way is to qualify for Federal subsides by falling into the income ranges below.

Subsidies on Mississippi premiums are for individuals and families who make between:

  • $11,490 to $45,960 for individuals
  • $15,510 to $62,040 for a family of 2
  • $19,530 to $78,120 for a family of 3
  • $23,550 to $94,200 for a family of 4
  • $27,570 to $110,280 for a family of 5
  • $31,590 to $126,360 for a family of 6
  • $35,610 to $142,440 for a family of 7
  • $39,630 to $158,520 for a family of 8

Individuals and families that make less than this range may be eligible for the expansion of Medicaid (detailed below). Those that make more than this range are not eligible for Federal subsidies. But, you should still be able to find cheaper plans than in the private sector.

Those that do fall into this range will get Federal subsidies on their health insurance. Obamacare Mississippi premiums also depend on the type of plan you choose. See more about Obamacare plans here. Recent data from the RAND Corporation on Mississippi premiums shows that in Mississippi (before Federal subsidies):

For all age groups and plans combined in Mississippi:

  • The Lowest Cost Weighted Average Premium (Bronze) in Mississippi is $342/month (national average is $249).
  • The Lowest Cost Weighted Average Premium (Silver) in Mississippi is $403/month. (national average is $310).
  • The 2nd Lowest Cost Weighted Average Premium (Silver) in Mississippi is $448/month. (national average is $328).

For a 27 year old (cheapest age) weighted average in Mississippi (monthly premiums) before federal tax credits:

  • The cheapest Bronze plan costs $225
  • The cheapest Silver plan costs $265
  • The cheapest Gold plan costs $321
  • The cheapest catastrophic plan (under 30) is $150.

For a family of 4 ($50,000 income) weighted average in Mississippi (monthly premiums):

  • The cheapest Bronze plan costs $28/monthly after tax credits
  • The 2nd cheapest Silver plan costs $1069/month before tax credits
  • The 2nd cheapest Silver plan costs $282/month after tax credits

These premiums are for weighted averages for most people. Results will vary based on a few factors for your personal situation. The bad news about Mississippi premiums is that they are much higher than the national average.

In states like Mississippi, premiums are going up higher to account for people with preexisting conditions. Insurance companies are making up for the fact that they could exclude people with preexisting conditions in the past. In Mississippi, these protections increase the cost of premiums for everyone.

The good news about Mississippi premiums is that Federal subsidies will help lower costs for many people. Individuals making less than $45,960 are eligible for subsides in Mississippi. Families of four making less than $94,200 should also qualify for subsidies on premiums.

Medicaid Expansion In Mississippi

Medicaid expansion in Mississippi is not going to happen at this time. Under Obamacare, people making less than $15,282 (133% of Federal Poverty Line) should qualify for the Medicaid expansion. This means that 300,000 who should qualify for Medicaid in Mississippi will not get it.

Here is Gov. Phil Bryant discussing Mississippi’s budget, including Obamacare:

In the video, Gov. Bryant says regarding the Medicaid expansion in Mississippi:

We just simply cannot afford it without draconian cuts in current important issues such as education, and healthcare, public safety, transportation. The dramatic cuts to the current to fund the new expansion of Medicaid are large tax increases. And, I’m just against either one.

Politics Nation covers the failure of the Medicaid expansion in Mississippi here:

The failure to expand Medicaid is likely to make residents in Mississippi angry. The worst part is that someone:

  • Making $25,000/year will pay half as much insurance as someone making $10,000/year.
  • At $25,000/year, you qualify for Federal subsidies that reduce your rates.
  • At $10,000/year, you should qualify for Medicaid and have free insurance.
  • The failure to expand Medicaid means people making $10,000 will have to buy insurance without any subsides.

You have to make between 133% and 400% of the Federal Poverty Line to be eligible for subsidies. Those making less are supposed to get Medicaid. Because people making less than the poverty line don’t get Medicaid in Mississippi, they are effectively locked out of getting health insurance.

The irony is that the people Obamacare was supposed to help the most, are getting helped the least.

Although all of this may sound complicated, what you have to do is sign up at Healthcare.gov. The Obamacare exchange in Mississippi will help you see what Obamacare can do for you.