Health insurers and Covered California officials are facing another curveball from the Trump administration on the Affordable Care Act that could rattle the insurance market. In early July, Seema Verma, administrator for the federal Centers for Medicare & Medicaid Services, said she was suspending a $10 billion program that helps stabilize the insurance markets created under the health law. She said the "risk adjustment" ... (More)
‘Silver loading’ to continue in ’19
June 7, 2018 Leave a Comment
Federal officials will not block insurance companies from again using a workaround to cushion a steep rise in health premiums caused by President Trump's cancellation of a program established under the Affordable Care Act, HHS Secretary Alex Azar announced. The technique -- called "silver loading" because it pushed price increases onto the silver-level plans in the Affordable Care Act marketplaces -- was used by many states for 2018 ... (More)
Calif. premium projection: Up 11%
May 30, 2018 Leave a Comment
Premiums in the individual marketplace will jump 11 percent in 2019, Covered California predicts. The increase comes as enrollment in the state Affordable Care Act marketplace is expected to fall as much as 12 percent. The projected premiums are in line with the "significant" increases of up to 35 percent that Covered California warned were coming over the next three-year period. This past year, Covered California premiums were up ... (More)
Study: ‘Catastrophic’ rates ahead
March 8, 2018 Leave a Comment
Health-care premium increases in individual markets could be as high as 32 percent in 2019 and rise between 35 and 94 percent by 2021, according to a study backed by Covered California. "The prospect of 30 percent premium increases in 2019 and hikes of over 90 percent over the next three years threatens access to coverage for millions of Americans," Covered California chief Peter Lee said. The report, "Major Indicators of ... (More)
First enrollment dip for Covered Cal
February 11, 2018 Leave a Comment
Covered California finished the open enrollment period for 2018 with an increase in new customers but a dip in renewals. Overall, 1.52 million residents signed up for health insurance via the state Obamacare operation. That's down from 1.55 million -- or about 35,000 fewer people than last year. Covered California said 432,484 of the total for 2018 are new enrollees, an increase of roughly 3 percent. Many were younger, pleased ... (More)
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