Affordable Care Act (ACA) Premiums Increase 8.2 percent... Sign of the times, price increase from bread to your health insurance premiums. For 2015 health insurance plans sold in government-run marketplaces will increase an average of 8.2%, according to the new analysis published in the health research institute. With 2015 open enrollment only a few months away, there are still 29 remaining states with only proposed rates published. Three of the states including Ohio, Oregon & Rhode Island have finalized rates. Currently the purposed average rate increases for monthly premiums is $385. Some premiums may jump as high as 50% in Arkansas while others like Arizona may drop by as much as 23%. The biggest state average premium increase among states where all the information was available was to occur in Indiana, which is reporting an average 15.4%. This increase will on average add $514 to their premiums. What we have seen is basically premium changes in a wide variety as no matter the state even high profile, not-for-profit Blue Cross Blue Shield plans have submitted increase requests that are running higher than 9% across the country. The second ACA open enrollment begins November 15th and the recent studies have warned that many existing plans may add bigger price increases over the new plans of additional insurers joining the exchanges for the first time. Curious where your state stands in the preliminary rate filings? CLICK HERE for your individual state details. This means that we need to be more educated in our choices as there are more options on the horizon for Americans purchasing private coverage on exchanges under the Affordable Care Act. The nations largest health insurers are expanding into new markets in 2015, offering additional products on government-run exchanges. So with more choices and more products for Americans, this is the time to do your research so when open enrollment comes you know what you have and whats available. Cigna, Aetna, BCBS, AvMed, US Health, Celtic, United Health Group, and many more means insurers are anticipating more competition with consumers looking for a better buy in 2015 than what they have or will have if their insurance premiums increase. So do the American thing and shop around, research, gain knowledge because premium increases are coming and options are available for the smart consumers.
Posted on: Tue, 09 Sep 2014 16:10:44 +0000
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