Virginia's $150M health insurance relief starts Sunday
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Thousands of Virginians could see their monthly health insurance premiums shrink — or drop to $0 — under a new $150 million state savings program opening for enrollment Sunday.
Why it matters: State leaders say rising insurance costs have already priced some Virginians out of coverage.
- Nearly 100,000 didn't re-enroll in the state's Marketplace this year, per the governor's office, and Richmond-area hospitals are already seeing more uninsured patients in their ERs.
Meanwhile: Virginia's Marketplace premiums are expected to climb an average of 15.8% next year, before subsidies, according to an analysis of state filings by HealthInsurance.org.
By the numbers: The new program — which lawmakers funded to help offset the loss of enhanced federal Affordable Care Act subsidies — could help up to 200,000 residents afford coverage next year, per state estimates.
- Eligible Virginians could save an average of $65 to $90 per person each month, according to the Virginia Health Benefit Exchange.
- More than 50,000 could qualify for plans with $0 monthly premiums, per the governor's office.
Who qualifies: The program targets Virginians earning between 138% and 250% of the federal poverty level, per the state.
- That's $22,025 to $39,900 annually for individuals and $45,540 to $82,500 for families of four.
How it works: Residents can check their eligibility and compare plans at Virginia's Insurance Marketplace.
- If eligible, the savings are automatically applied to your monthly premium. No separate application is required.
The catch: The $150 million is available on a first-come, first-served basis, with no guarantee it'll cover everyone who qualifies.
- Virginians earning above the income limits are excluded, even if they're struggling with rising premiums.
- Funding only runs through 2027 for now, leaving future savings uncertain.
- And $0 monthly premiums don't mean free health care. Deductibles and copays might still apply.
What's next: Open enrollment begins Sunday and runs through Jan. 29.