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Small Business Employee Benefits and HR Blog

2015 Mississippi Health Insurance Marketplace Update

September 24, 2014
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MississippiWith open enrollment for health insurance coverage for 2015 right around the corner, many of the Marketplaces are releasing their approved individual and small employer health plan rates for 2015. This article provides an overview of available health insurance rates for Mississippi in 2015.

Mississippi Health Insurance Marketplace- Approved Carriers for 2015

So far, there are two insurance companies offering individual health insurance plans through Mississippi's federally-run Marketplace. The carriers are:

1. Ambetter from Magnolia Health Plan

2. Humana Insurance Company

These carriers are offering 22 different plans throughout the state. The health insurance Marketplace will be available for open enrollment for coverage in 2015 on November 15, 2014.

Mississippi Health Insurance Exchange- Individual Plan Rates

The chart below shows available monthly rates for a 30-year-old, a 50-year-old, a family of four with 30-year-old parents and two children, a single parent family of two with a 30-year-old-parent and one child, and a 30-year-old couple without children. These plans are divided into the four “metallic tiers” of coverage to compare plans by level of coverage.

This data is for individuals living in Rakin County, Mississippi. Premium rates will vary based on carrier, plan, age, region, family size, and tobacco use.

  Age 30 Age 50 Family
of 4
Single
Parent
Family
Couple
Platinum $315 $496 $982 $491 $630
Gold $280 $440 $871 $436 $559
Silver $245 $386 $764 $382 $490
Bronze $216 $340 $673 $337 $432

Source: HealthCare.gov (click link for detailed rates by region and plan)

Mississippi Health Insurance Marketplace- Premium Tax Credits

The above rates reflect the premium prices before any cost-sharing or premium tax credits, which may further decrease healthcare costs for eligible consumers. The actual premium amount that Mississippi residents will be responsible for will depend on their household income.

The premium tax credits cap the cost of health insurance at two to 9.5 percent of the household income for enrollees for households with income up to 400 percent above the federal poverty line (FPL).

Additional Resources

For information on how to apply for individual health insurance on the Health Insurance Marketplace see: How to Apply for Individual Health Insurance in 2015.

More information on the federally run Mississippi Health Insurance Marketplace is available at healthcare.gov.

To see information from last year, see Mississippi Health Insurance Exchange Update- Premium Rates to Increase

To see information on health insurance options for small businesses in Mississippi, see Mississippi Small Business Health Insurance Information

Questions about the individual and family health plan rates for the Mississippi Health Insurance Marketplace? Leave a comment below.

 

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