Thursday, October 11, 2018 01:40 PM

HEALTH CARE EXCHANGE PREMIUMS DIP, FINALLY

Health insurance premiums in the 39 states that use HealthCare.gov will fall 1.5 percent on average for the most commonly purchased plans in 2019, marking the first time that rates have dropped since the 2010 health care law was implemented.

The decline is a significant departure from steep increases in 2017 and 2018. Premiums for HealthCare.gov plans grew by an average of 37 percent for plans this year, after rising by 25 percent the year before, the Centers for Medicare and Medicaid Services said Thursday.

Last year, insurance companies raised rates because they were uncertain about the future stability of the markets created under the health care law. The administration had cut off funding for subsidies that helped some consumers afford out-of-pocket costs and insurers anticipated the effective end of a requirement for most Americans to get coverage, said Sabrina Corlette, a research professor at the Center on Health Insurance Reforms at Georgetown University.

What were seeing now is that these companies overshot the mark a little bit with their pricing, and so theyre kind of recalibrating now, she said.

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News source: Roll Call

See also: Trauger