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Updated July 2015
The increased cost of health insurance is a central fact in any discussion of health policy and health delivery. As annual premiums edged beyond $16,800 for an average family, costs are blamed for rising uninsured and under-insurance. For those Americans who are fully-covered, these cost realities affect employers, both large and small, plus the pocket-book impact on ordinary families.
2016 Plan Year Premiums
- Proposed Premium Rate Increases for 2016: The Jury Is Still Out – Report by The Commonwealth Fund, July 21, 2015. [Full text online ]
- Health Insurance Companies Seek Big Rate Increases For 2016.
– On July 3, 2015, the NY Times reported Health insurance companies around the country are seeking rate increases of 20 percent to 40 percent or more, saying their new customers under the Affordable Care Act turned out to be sicker than expected. Federal officials say they are determined to see that the requests are scaled back. Blue Cross and Blue Shield plans market leaders in many states are seeking rate increases that average 23 percent in Illinois, 25 percent in North Carolina, 31 percent in Oklahoma, 36 percent in Tennessee and 54 percent in Minnesota, according to documents posted online by the federal government and state insurance commissioners and interviews with insurance executives. (Pear, 7/3 cited in Kaiser Health News)
- Analysis of 2016 Premium Changes and Insurer Participation in the ACA s Health Insurance Marketplaces – report by Kaiser Family Foundation, June 24, 2015 [Excerpt]
This report presents an early analysis of changes in the premiums for the lowest- and second-lowest cost silver marketplace plans in major cities in 10 states plus the District of Columbia, where we were able to find complete data on rates for all insurers. It follows a similar approach to our September 2013 and 2014 analyses of Marketplace premiums. In most of these 11 major cities, the authors find that the costs for the lowest and second-lowest cost silver plans where the bulk of enrollees tend to migrate are changing relatively modestly in 2016, although increases are generally bigger than in 2015. The cost of a benchmark silver plan in these cities is on average 4.4% higher in 2016 than in 2015.
Benchmark premium changes in 2016 vary significantly across the cities, ranging from a decrease of 10.1% in Seattle, Washington to an increase of 16.2% in Portland, Oregon.
2015 to 2016: Monthly Benchmark Silver Premiums for a 40 Year Old Non-Smoker Making $30,000 / Year