Consumers Union on Covered California’s Proposed Health Insurance Rate Increases for 2018
Covered
Still, consumers will face an average 12.5 percent rate increase if they stay with their current plan, while those who shop and change coverage will find better deals. In the absence of a clear commitment from the Administration and
"It's not surprising to see larger rate increases than what we would have hoped for given the tremendous uncertainty surrounding the future of the ACA and cost sharing reduction payments," said
Consumers should be aware that the rate increases announced today are weighted statewide averages. Because healthcare is local, rates between regions will vary. Consumers should look at proposed rates in their region rather than relying on averages. Additionally, rates announced today are not final. The state's health plan and insurance regulators, the
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* The
The proposed 2018 rates announced today, once finalized, will affect:
* Over one million Californians who have already purchased insurance through Covered CA for 2017 and are coming up for renewal this Fall;
* Those applying this Fall for coverage from Covered California in 2018; and
* Those who buy certain individual policies outside of Covered California for 2018. The law requires companies that sell products in Covered CA to sell the same products outside of the Exchange at the same premium. (Note: Financial assistance, which nearly 90 percent of enrollees at Covered California receive, is only available for policies purchased through the exchange)
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