HHS reports on premiums, choice in 2018 health insurance exchange

Oct 30, 2017 - 10:38 AM

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
Blog: America’s Hospitals Are Transforming Care for an Aging Nation
A new AHA blog details how hospitals are modernizing care for older Americans. It highlights the Age-Friendly Health Systems initiative, created by The John A…
Headline
AHA podcast discusses ways Jefferson Health is rethinking healthcare access
In this conversation, Baligh Yehia, M.D., president of Jefferson Health, shares how the organization is rethinking healthcare access through same-day cancer…
Headline
Appeals court vacates certain No Surprises Act provisions on qualifying payment amounts
The 5th U.S. Circuit Court of Appeals Aug. 11 ruled to vacate certain regulations implementing how the No Surprises Act qualifying payment amount is calculated…
Headline
AHA podcast: A Leadership Playbook for Age-Friendly Care
In this conversation, Michele Frankel, deputy market president for Northwell Health’s Eastern Market, and Susan Kwiatek, DNP, vice president of aging and…
Headline
CMS releases implementation timeline guidance for updates to No Surprises Act independent dispute resolution process 
Guidance on the implementation timeline for the No Surprises Act independent dispute resolution operations final rule was released Aug. 7 by the Departments of…
Headline
Essential community providers must apply or renew with CMS by Aug. 12
Current or prospective essential community providers, which are facilities serving predominantly low-income and medically underserved individuals, must update…