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Find Health Insurance Plans and Prices on the Marketplace Exchange – healthcare.gov Editor's Pick

Find individual health insurance plan options and prices at healthcare.gov. This is the ONLY health insurance site to use if you want (and qualify for) the federal subsidies for affordable health insurance AND your state participates in the federal marketplace exchange. Compare plans on monthly premium prices, deductibles, plan features and star quality ratings. The federal marketplace exchange shows Bronze, Silver, Gold and Platinum metal levels. It first opened for 2014. People who don’t get subsidies can also choose a plan and enroll at healthcare.gov. Open enrollment for everybody (except Medicare) between November 1 and December 15, 2021 for coverage starting Jan. 1, 2022. This year, the federal exchange is open for an additional month (to Jan. 15, 2022) for coverage starting Feb. 1, 2022. Select Preview Now if you just want to scan the plans before you create an account. At minimum, enter your age, or you may get false prices. If you lose coverage during the year, you may also qualify to enroll outside of the Nov.-Dec. open enrollment. Links are provided to your state marketplace if your state has its own health insurance website. Editor’s Pick.

Federal Exchange Marketplace Average Rate Changes for 2022 (CMS)

CMS reported average rate changes in health insurance premiums for 2022 on the federal exchange marketplace for two types of sample consumers – a 27 year old, and a family of four. The premium cost for the second-lowest cost silver plan (benchmark) is reported to be reduced by 3%, on average, for the 2022 enrollment starting Nov. 1. According to CMS, the average benchmark silver plan premium for a 27 year old is expected to be $368 in 2022. The average benchmark plan (after the American Rescue Plan implementation) was estimated to be $379 per month in 2021. After subsidies, a 27 year old with income at 150% of federal poverty level (i.e., $19,320 per year) would pay $0 for the lowest cost silver plan in 2022. For the Family of Four example, the benchmark silver plan cost $1,440 per month on average. The lowest cost plan (probably a Bronze plan) will cost $1,061 per month for incomes at 250% of the federal poverty level ($66,250 household income). However, after qualifying subsidies, the family cost was just $3 per month.

The healthcare.gov exchange will open on November 1, 2021. Open enrollment closes January 15, 2022. However, if you want coverage to start January 1, 2022, you must enroll by December 15, 2021.

No information about average price hikes or reductions was presented for older consumers. Older enrollees pay more, but costs for older consumers in 2022 were not disclosed in the press release. Also not disclosed in the CMS press release, Oct. 25, 2021, is the size of deductibles. The report accompanying the news release is one of the most confusing written.

For reference, the average 2020 total monthly premium for Marketplace enrollees was $573, before Advance Premium Tax Credits and before adjustment credits due to the pandemic. This was down 3% from 2019. The average enrollee is older than 27 years of age. AARP noted that a 2019 Kaiser Family Foundation report found that a 60-year-old not eligible for subsidies paid $708 a month for the lowest-cost bronze plan and $943 a month for the lowest-cost silver plan.

Health Insurance Company Rate Increases for 2023 Editor's Pick

Preview the health insurance company rate increases for 2023. Healthcare.gov reports the rate requests and final (not yet posted) rate increase or decrease for Jan. 1, 2023, by name of health insurance plan for both Individual policies and Small Group enrollment. Health plans on – and off- the health insurance exchange. Search by state, and look for increases effective January 1, 2023. Updated for 2023.

Health Insurance Cost Projection: 7.6% Increase Projected for 2022

Health Insurance Costs for 2022 are projected to be up 7.6% in 2022 in the US according to a survey of employers. The top 3 conditions (excluding maternity) in terms of cost, globally, are cancer, cardiovascular and musculoskeletal conditions. Rates of increase are compared with Europe and across other world regions. Costs for 2020 were estimated to have a 7.2% increase in the US, followed by 7.3% increase during 2021. Globally, 2020 costs were estimated to be up 4.8% in 2020 and 8.1% in 2021, to be followed by another 8.1% increase next year (2022). Telehealth was identified as a cost management strategy. Global Medical Trends Survey is published by Willis Towers Watson, November 2021.

Impact of Covid on Insurance Rate Increases for 2022

What impact will COVID-19 have on health insurance rate increases for 2022? According to the American Academy of Actuaries, the COVID-19 pandemic continues to bring uncertainties into developing premium rates for 2022. Among the factors are regional vaccination rates that affect both Covid illness and non-Covid care; increased future illness (or higher severity of illness) as a result of delaying preventive, vaccinations and early screening for cancer; higher alcohol use during the pandemic; PTSD from being on a ventilator for a long time; mental health and telemedicine usage. The actuaries did not hazard a guess about rate hikes. Gains and profits made in 2020 and/or 2021 or 2022 may be rebated to consumers, if necessary, based on the 3-year formula, instead of lowering health insurance rates. The report suggests that conservative insurance companies will play it safe and increase premiums as they deem prudent for 2022. Nine page Issue Brief: Drivers of 2022 Health Insurance Premium Changes was published September 2021 at actuary.org.

Medicare Advantage Plans Part C Premium Costs for 2022 (CMS)

CMS announced that the average Medicare Advantage plan (Part C) premium cost will decrease again in 2022. CMS estimates the average monthly rate will be $19 per month (plus what you will pay directly to Medicare for Part B). The average premium in 2021 was about $21. Medicare Advantage plans may or may not include Part D drug coverage. More than 4 in 10 Medicare beneficiaries are already in Medicare Advantage plans. The Advantage plan enrollment has been increasing in recent years as people switch from traditional Medicare. Plans vary widely by state and region. Read very carefully. For many consumers, there will be a $0 monthly premium. However, in all plans, there will be copays, deductibles, and potentially large out of pocket maximums to consider. At the end of the press release are links to actual premiums by name of health plans in each state. Press Release issued September 30, 2021.

Medicare Part B Premium, Deductible and Part A Deductible for 2023

CMS announced the standard Medicare Part B monthly premium will cost $164.90 (down $5.20) in 2023 for most beneficiaries ($1,979 per year), with a $226 deductible (down $7). Part B premiums and the Part B deductible are both down about 3%. Lower cost on the drug Aduhelm is one of the reasons for lower premiums. High income seniors will pay between $230.80 and $560.50 per month. CMS says about 7% of Medicare beneficiaries pay the high-income premiums for Part B. Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items. The Medicare Part A hospital insurance deductible will rise by $44 (2.8%) to $1,600. High-income people will also pay more for Part D drug insurance – between $12.20 and $76.40 extra per month. Released September 27, 2022.  See more Medicare cost news here 

Medicare Part D Drug Premium Costs for 2023

For 2023, the average basic Medicare Part D drug premium cost is expected to be about $31.50 per month, according to a CMS press release. The 2023 basic Part D premium is projected to be 1.8% lower than $32.08 in 2022. Reported July 29, 2022.

National Business Group: Health costs expected to rise 6% to 6.5% in 2023

National Business Group on Health survey of large employers finds companies expect 6.5% increase on average in their 2023 health insurance plan premiums and costs. They will take measures to lower the impact to about a 6% expected increase. The pandemic severely reducing medical care, resulting in a 0% healthcare trend in 2020. But as care was made up, costs increased by 8.2% for 2021. Average total cost per employee, including both premiums and out of pocket costs, was estimated at $15,862 for 2022, compared to $15,412 for 2021, under a 3% increase.  Must register to get access to the numbers. Annual survey released by the National Business Group on Health, August 2022.

Other Helpful Listings

Factors Expected to Impact Health Insurance Premiums 2021 – AHIP

America’s Health Insurance Plans (AHIP) identifies factors that are expected to impact premium costs for individual plans in the Health Insurance marketplace for 2021. AHIP did not project increases for 2021. Instead, they identified aspects of COVID costs – such as testing, treatment, vaccine availability, how long the outbreak and pandemic lasts, how many people get sick, etc. Overall, there has been a large delay in “regular” care, which lowers insurance company costs. Some of that care is foregone, some will happen later, if there is capacity in healthcare systems to deliver it. For most insurance companies, 2020 is likely to be a profitable year. What happens in 2021 is yet to be seen. Published May 2020.

Find Health Insurance Plans and Prices on State-Based Marketplace Exchanges Editor's Pick

Find health insurance plans and prices in states that use the state-based marketplace exchanges, instead of the federal healthcare.gov marketplace. Here are the links for 17 states and DC. The federal subsidies still apply to these state exchanges: CA, CO, CT, Washington DC, ID, KY, ME, MD, MA, MN, NV, NJ, NM, NY, PA, RI, VT and Washington state.  The states will show Bronze, Silver, Gold and Platinum metal levels. Compare plans on monthly premium prices, deductibles, plan features and quality ratings. Open enrollment for everybody (except Medicare) between November 1 and December 15, 2021 for coverage starting Jan. 1, 2022. You may have to create an account before you can see the plan options. But each state will vary. If you lose coverage during the year, you may also qualify to enroll outside of the Nov.-Dec. open enrollment.

Health Insurance Company Rate Increases for 2023 Editor's Pick

Preview the health insurance company rate increases for 2023. Healthcare.gov reports the rate requests and final (not yet posted) rate increase or decrease for Jan. 1, 2023, by name of health insurance plan for both Individual policies and Small Group enrollment. Health plans on – and off- the health insurance exchange. Search by state, and look for increases effective January 1, 2023. Updated for 2023.

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