A new issue brief from the Kaiser Family Foundation looks at the status of the upcoming marketplace for the 2018 plan year. The brief entitled “An Early Look at 2018 Premium Changes and Insurer Participation on ACA Exchanges” examines some of the preliminary filings done by insurers in 20 states plus the District of Columbia to determine if any insurers will be pulling out of the market and what premium increases consumers could potentially face.
In the 21 jurisdictions the brief covers, just over half (11) will have the same number of insurers participating in 2018 as participated in 2017. In only one state (Delaware) will reduced market participation result in only 1 insurer in the market.
As for premiums, the brief shows premium increases in all but two states, but the net effect to the consumer may be minimal when tax credits are taken into account. For instance, the largest premium increase would occur in Wilmington, DE with rates for the 2nd lowest cost silver plan going up by 49%, but since the tax credits are tied to the amount of the 2nd lowest cost silver plan, an individual making $30,000 per year would actually see a 3% decrease in the premium they would pay after the tax credit is accounted for.
States covered in the brief include: California, Colorado, Connecticut, District of Columbia, Delaware, Georgia, Idaho, Indiana, Maine, Maryland, Michigan, Minnesota, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, Washington.
Another interesting analysis from Kaiser on the short term prospects of the ACA is their article “What’s the Near-Term Outlook for the Affordable Care Act?“