Obamacare premium rates lower than expected

NEW YORK (CNNMoney)

The national average premium for the benchmark plan will be $328 a month before subsidies, 16% less than projected by the Congressional Budget Office.

The benchmark is the second-lowest cost "silver" policy for 48 states, upon which federal subsidies are based.

The long-awaited release of the premium rates also details for the first time what shoppers will pay on the 36 state-based exchanges that the federal government will fully or partly run. States that are operating their own exchanges have been revealing their rates over the past few months.

Consumers will be able to start enrolling in the exchanges on Oct. 1, with coverage beginning in January.

Starting in 2014, nearly everyone must have insurance -- either through their jobs, government programs or the individual market -- or face a penalty.

Americans with incomes up to 400% of poverty are eligible for federal subsidies, and what they'll actually pay on the exchanges varies widely by state, age and income.

For instance, a 27-year-old living in Dallas making $25,000 could pay as little as $74 a month for the cheapest "bronze" plan after subsidies, according to the Department of Health and Human Services.

But a 60-year-old in Wyoming who makes more than $46,000 a year -- too much to get a tax credit -- could pay as much as $758 for a similar plan.

The majority of people uninsured today can find a policy for $100 or less a month, taking into account subsidies and Medicaid eligibility, the administration said.

First Published: September 25, 2013: 7:45 AM ET

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