CMS announces average premiums for 2020 benchmark plans

The average premium for a benchmark plan at HealthCare.gov will decline 4% in 2020 to $388, the Centers for Medicare & Medicaid Services announced today. For the 38 states using HealthCare.gov to sell plans in the individual health insurance market, the average premium change in 2020 for a benchmark (second-lowest-cost silver) plan for a 27-year-old adult will range from a 20% decline in Delaware to a 13% increase in Indiana, according to data released by the agency. An additional 20 qualified health plan issuers will offer coverage through the federally-facilitated exchange in 2020, and the number of enrollees with access to only one insurer will drop from 20% to 12%, CMS said. Open enrollment for 2020 coverage through HealthCare.gov begins Nov. 1 and runs through Dec. 15.