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HHS: Subsides Are Reducing Your Monthly Bill By 72%

The Obama administration is urging consumers to enroll by the February 15 deadline by releasing a new report today showing that consumers are saving 72% on average through cost-saving subsidies provided by the government. The average monthly bill for insurance in 2015 dropped from $374 before subsidies to $105 with the subsidies, a $268 savings per month.

The report also showed that 87% of people who have enrolled so far were eligible for the subsidies and financial assistance, HHS said, totaling almost 6.5 million consumers qualifying across 37 states run under the federal marketplace.

“Consumers who sign up in states using are saving $268 a month on their premiums on average” said HHS Secretary Sylvia Burwell in a statement. “This is further proof that the Affordable Care Act is working for the middle class”

Monday’s report is part of a concerted effort by federal health officials to emphasize the affordability of coverage on the exchanges.

The department has already surpasses it’s goal for the year when it announced it reached 9.9 million sign ups as of January 30th.

Consumers are encouraged to enroll as this is the final week before the close of Open Enrollment on February 15, barring any state-extension announcements.

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