- Wednesday, 17 October 2018 10:51
Two weeks to go before the ObamaCare ACA open Enrollment season begins- Well, its not really a season as it is only 5 weeks long. Don’t miss it!
According to an article in the Wall Street Journal, “Average rates for popular health plans sold under the Affordable Care Act will fall 1.5% next year, according to the Trump administration, the first such drop and a sign that the insurance markets are gaining firmer traction despite tumult in the past two years.
The decrease will affect average premiums for the second-cheapest plans in the “silver” tier, a middle-cost option, after years of double-digit increases. In contrast, the average rate for those plans increased by 37% between 2017 and 2018, the administration said.”
However, averages can be misleading. In NY the average increase is about 11%, and in South Carolina its 5%. In Iowa, insurer Medica is lowering rates – but that’s after a 57% increase last year. Tennessee expects a 26% drop, Deleware a 16% increase, with double digits in many other states.