Individual health insurance premiums have increased
According to eHealth’s annual Health Insurance Price Index Report for 2018, individual health insurance premiums have increased by 62 per cent since the first Affordable Care Act (ACA) open enrolment period.
According to eHealth’s annual Health Insurance Price Index Report for 2018, individual health insurance premiums have increased by 62 per cent since the first Affordable Care Act (ACA) open enrolment period.
The report tracks costs and trends from the ACA's initial 2014 open enrolment period through the most recent open enrolment period when consumers selected coverage for 2018. Additional key findings include: US$440 was the average monthly premium for individual health insurance plans selected by unsubsidised eHealth customers; $1,168 was the average monthly premium for a family health plan, a 17-per-cent increase from 2017 and a 75-per-cent jump from 2014; deductible costs also rose in 2018; the average premium for individual Bronze plans in 2018 was higher than the average premium for Platinum plans in 2014 and 2015; and HMO-style health insurance plans accounted for 56 per cent of all individual and family policies selected by eHealth customers for 2018, a 17-per-cent increase since 2014.
“As we approach the upcoming open enrolment period for 2019 coverage, it's valuable to take a look back at the way the market has changed since 2014,” said eHealth CEO Scott Flanders. “Consumers who qualify for federal premium subsidies may not realise how much the cost of coverage has changed over the years, but individuals and families who don't qualify for subsidies have borne a heavy burden in increased costs, as our report shows.”