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
The Department of Health and Human Services this week awarded $487 million in fiscal year 2019 grants to help states and territories increase access to…
Headline
The National Health Law Program and other groups yesterday filed a class action lawsuit against the Department of Health and Human Services for approving a…
Headline
The three medications approved by the Food and Drug Administration to treat opioid use disorder — methadone, buprenorphine and extended-release naltrexone —…
Headline
Hospitals in states that impose Medicaid work requirements could see reduced Medicaid revenues and operating margins and increased uncompensated care costs,…
Headline
About 34 percent of uninsured U.S. adults did not take their medication as prescribed in 2017 in order to reduce their prescription drug costs, according to a…
Headline
In a study of Blue Cross and Blue Shield enrollees reported last week in the New England Journal of Medicine, initial opioid prescriptions declined 54 percent…