Thousands of people who use HealthSource RI may be paying too much for Medicare
PROVIDENCE, RI (WPRI) – Thousands of Rhode Islanders who use HealthSource RI may be overpaying for their health insurance because they failed to take advantage of a recent change in federal law.
âIt’s historically affordable,â Lindsay Lang, director of HealthSource RI, told Target 12. âIt’s never been more affordable than it is today. “
Lang said his team has contacted approximately 2,900 people registered in Rhode Island to let them know they could benefit from the change in their coverage plan before the new registration deadline of August 15.
The reason for the change: The US bailout, which President Biden signed in March, increased federal subsidies for health care plans.
The Affordable Care Act, which established a nationwide trading market for health insurance, offers Bronze, Silver, Gold, and Platinum level plans, and approximately 32,000 Rhode Islanders are enrolled in one of the plans through HealthSource. RI, according to Lang.
She said her team found that thousands of people across the state would benefit from switching from the Bronze plan to the Silver plan, giving them more coverage with little to no difference in cost, due to new federal grants.
Yet so far, she said, only about 100 people have left the nearly 3,000 who could benefit.
âWe are seeing our consumer costs drop by an average of $ 50 per month,â Lang said.
She gave an example: âFor a family of four, which earns about $ 70,000 per year, they will save about $ 900 per month. “
If you miss the new registration deadline of August 15, there will be another opportunity starting November 1.