2016 Exchange Plan Premiums To Rise by 4.4% in 14 Major Cities
Fourteen major U.S. cities in 2016 will see average premiums for silver-tier health plans sold through the Affordable Care Act's exchanges increase by about 4.4%, according to an analysis by the Kaiser Family Foundation, The Hill reports.
For the analysis, KFF examined premiums in 14 cities that had complete data on the rates from all insurers participating in the ACA's exchanges. KFF plans to update the findings as more states release data, according to The Hill.
Premiums Up From Last Year
According to the analysis, the rates are up from last year, when the 14 cities saw an average 1.3% decrease in premiums (Sullivan, The Hill, 10/2).
The analysis found that average 2016 premiums will increase by:
- 28.7% in Minneapolis, compared with an 18.5% increase in 2015;
- 22.8% in Portland, Ore., compared with a 6.1% increase in 2015;
- 7.3% in Burlington, Vt., compared with a 5.6% increase in 2015;
- 7% in Albuquerque, N.M., compared with an 11.8% decrease in 2015;
- 6.3% in Richmond, Va., compared with a 2.7% increase in 2015;
- 5.8% in Baltimore, compared with a 2.6% increase in 2015;
- 1% in Providence, R.I., compared with an 11.3% decrease in 2015;
- 0.7% in Washington, D.C., compared with a 0.2% decrease in 2015; and
- 0.5% in New York City, compared with a 1.8% increase in 2015.
Meanwhile, average premiums in 2016 will decrease by:
- 1.3% in Hartford, Conn., compared with a 1.8% decrease in 2015;
- 1.8% in Detroit, compared with a 2.5% increase in 2015;
- 5% in Los Angeles, compared with a 1.2% increase in 2015; and
- 10.4% in Seattle, compared with a 9.8% decrease in 2015 (KFF analysis, 10/1).
Further, some areas will see much higher increases. For example, Minnesota's insurance commissioner has approved premium increases as high as 49% in the state, according to The Hill (The Hill, 10/2).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.