Exchange Enrollees Could See Larger Premium Increases in 2016
Obama administration officials on Friday said that U.S. residents can now visit HealthCare.gov and view premium prices for 2016 health plans, the AP/Sacramento Bee reports.
The federal exchange will operate in 38 states during the Affordable Care Act's upcoming open enrollment period, which begins Nov. 1. Individuals in states that will operate their own exchanges might also be able to view premium rates.
Experts Expect Premium Increases
Experts predict that premium increases for 2016 health plans purchased through the state and federal exchanges will be larger than they were last year. The increases can vary depending on the local coverage market, according to the AP/Bee.
For example, experts noted that the five insurers participating in Minnesota's exchange market are increasing premiums by 14% to 49%. In comparison, exchange enrollees in Southern California who re-enroll in their current plans could see an average increase of 1.8%.
According to the experts, average exchange plan premium increases in 2016 will range from the upper single digits and the teens.
According to the AP/Bee, the premium increases should be mostly offset for more than 80% of consumers by the subsidies they receive to help them purchase coverage under the ACA (Alonso-Zaldivar, AP/Sacramento Bee, 10/23).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.