The Department of Health and Human Services today released an analysis of consumer choice and premiums in the 2018 federal health insurance exchange, which focuses on states that use the HealthCare.gov platform. According to HHS, the average monthly premium for the second-lowest cost silver plan (the benchmark plan) grew 37% for 2018 while the average monthly premium for the lowest-cost plan of any metal level grew 17%. Due to the growth in the cost of the benchmark plan, according to HHS, the average advanced premium tax credits will increase 45% in 2018 to $555. As a result, enrollees who qualify for APTC may pay a lower portion of their premiums than in prior plan years, especially if they select plans from metal levels other than silver, the agency said. Many states required plan issuers to load an additional premium increase onto silver plans to account for uncertainty over cost-sharing reduction payments. The number of plan issuers participating in the exchange fell from 167 in 2017 to 132 for 2018, with eight states expected to have only one issuer.

Related News Articles

Headline
Continued rising drug prices, as well as shortages for many critical medications, are disrupting patient care and forcing hospitals to delay infrastructure and…
Headline
AHA said it generally supports CMS’ efforts to grant greater state-level flexibility and reduce regulatory burden, but urged the agency to ensure Medicaid…
Headline
Virginia hospitals and health systems provided nearly $3.3 billion in community benefit and other support in 2017, according to the latest annual report by the…
Perspective
We’re 11 days into 2019 … we’ve returned to a divided government …and the partial government shutdown continues.
Headline
The House of Representatives last night authorized its general counsel to intervene to defend the Affordable Care Act in a federal court case in Texas, and in…
Insights and Analysis
The secret to healthy, long lives lies in their social determinants. Six hospitals in a vulnerable area of Chicago pooled resources and ideas to address those…