Obamacare Premiums in Ky

A person receiving subsidies as a part of the ACA, receives an amount commensurate with an approved low-cost plan, usually a bronze level plan. The cost of this approved plan will depend upon the market in the state (or county, depending) and will fluctuate along with the plans on offer.

However, it's important to point out that the fluctuation has not so much to do with the amount of the subsidy as it does with the amount of your premium. That is to say that your premium (cost) for your policy this year is $80 higher than last. It looks like the value of the subsidy only decreased by $40, which suggests there is a cheaper plan available this year.

Although I am an insurance agent, I am not licensed in Kentucky, so I cannot provide you absolute guidance. I would suggest you review the available options in your area and see whether you can find something more affordable. Ultimately, your decision on a plan will likely hinge on whether you have existing or imminent medical expenses and the degree to which the available plans cover them vs. the respective cost of those plans.

If you don't have any medical expenses currently, nor do you expect to, you can rest assured that any plan meeting the minimum standards of the ACA provides adequate major medical coverage. If you really need to cut the cost of your insurance, consider lowering the coverage or metal type to bronze or looking at managed care options such as an HMO, which, although it might greatly restrict who you can see, will be significantly less expensive than a PPO plan.

I understand that the current costs of insurance are onerous for all but the most affluent. I sympathize with you and can only wish you well.