More options for Lehigh Valley Obamacare buyers
Buyers across the state will have more options as well with premiums rising less than 1 percent despite the Trump administration's moves to chip away at the federal health insurance program.
UPMC, a
Next year, residents will be able to choose from 30 individual plans of varying coverage and price. This year, they were offered 15.
The trend is statewide. Four out of the five companies that offered individual insurance plans will expand through more of
The expansion speaks to a healthy individual insurance market in
"I do often think carriers, or insurers, have a sense that their market is getting more competitive and that does have a positive influence in bringing rates down," she said.
Altman said she did not know whether companies knew of their competitors' requested rates before Monday, though expectations of increased competition may have tempered any price increases.
The average statewide requested increase is 0.7 percent. In previous years, premium increases had averaged more than 30 percent in
The big rate hikes in years past may be the reason the 2019 rate increases are so small, with some companies even decreasing premiums, said
Companies have to pay out a certain percentage of what they take in to pass regulatory muster, and raising rates could mean they have to rebate customers.
"Not only is there the fact that they have competitors keeping their premiums low, there's also this regulatory constraint," Claxton said. "If they have to raise premiums beyond what they need, eventually they have to give the money back."
A modest increase is good for consumers, he said.
The state
The expected prices of monthly premiums on plans to be offered in the
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Silver plans for 40-year-old nonsmokers, not including subsidies
Geisinger Quality Options:
Highmark:
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Silver plans for 40-year-old nonsmokers, not including subsidies
Geisinger Quality Options:
Highmark:
UPMC:
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About 390,000 Pennsylvanians are covered under Obamacare, according to the
Most people won't see a significant difference in their premium prices because federal financial assistance typically increases to match price hikes. Those who don't qualify for subsidies will have to pay more.
Claxton recommended customers shop around for 2019 plans instead of automatically renewing previous insurance plans, especially since some companies offering plans in the
The state's announcement of 2019 projected premium prices followed another year of Obamacare news.
President
A repeal of the individual mandate likely will reduce the federal deficit by about
Enrollment for 2018 fell about 9 percent short of the 2017 numbers after federal officials cut the enrollment period in half and reduced funds for advertising and enrollment assistance.
The people who have chosen not to purchase insurance in
The administration has also cut funding programs that help people enroll.
In
These cuts to enrollment programs affect vulnerable populations, such as those who do not speak English or don't have the documents to sign up for health insurance, said
The
But Obamacare enrollees are not long-term insurance buyers, Pollitz said. They may have aged out of their parents' plan or lost their jobs.
"There's no learning curve," Pollitz said. "This is a market that by definition churns. There's always new people buying coverage."
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