CBO Letter to Snowe on Bronze Plan

The Congressional Budget Office said that the cost of a “bronze plan,” the tier of benefits that people 30 or older would have to purchase under the senate bill would average between $4,500 and $5,000 for individuals and between $12,000 and $12,500 for family coverage. People below the age of 30 would be permitted to fulfill the mandate by purchasing coverage which is expected to cost considerably less than the bronze plan. For those eligible to receive subsidies, the premium costs could be significantly lower. According to CBO the cost of a bronze plan would be considerably less than both the estimates of premium costs under current law and under previous projections using higher actuarial value assumptions.  These new estimates lower the projected costs of complying with the individual mandate.