The news has been filled with the announcement that next year’s health care premiums are going to be raised by an average of 25%. Before you really start to panic there is a lot more information you should know that could end up still saving you money.
Here are the FACTS on Health Insurance Premium Increase:
Obamacare rates are going way up.
The latest estimate from the federal government is that the average mid-level Obamacare plan, the most popular choice, will cost about 22 percent more in 2019 than it did in 2017. This is based on data from 39 states where people sign up through the HealthCare.gov website and some preliminary data from four other states and the District of Columbia.
There is big variation nationwide. Customers in Phoenix are looking at a premium increase of 145 percent. On the other hand, customers in Providence, R.I., are looking at a 14 percent decrease. This is according to a Kaiser Family Foundation analysis.
These increases really matter only for those who buy their own insurance.
Most people are unaffected by the rate increases. This is because they get their insurance through an employer or are covered through government programs like Medicare, Medicaid or the Department of Veterans Affairs.
Only a small fraction of Americans who have insurance buy individual policies. There are about 10 million people in the Obamacare markets and around an additional 7 million who buy health plans outside the marketplace. This is according to Obama administration estimates. The published rate increases apply only to people who shop in the markets. However, premiums are expected to go up sharply for the other plans as well.
Health Plans in Oregon can help you make sense of all of this new information without cost to you. Let us help you know more about health insurance premium increase and many more!
Make sure you don’t miss your chance to enroll for healthcare coverage. Here are two key dates you should know:
November 1st: | December 15th: |
Open Enrollment starts: This is the first day you can enroll, re-enroll, or change an insurance plan. | Last day to enroll in or change plans for coverage to start January of the following year. |
So if you would like assistance deciding what coverage is right for you, Health Plans in Oregon can help.
