Premium rates for health plan policies in the health insurance exchange (HIE) are expected to vary nationally, but they aren't likely to skyrocket - at least according to one research group.
Premium rates for health plan policies in the health insurance exchange (HIE) are expected to vary nationally, but they aren’t likely to skyrocket—at least according to one research group.
Some US state officials have voiced concern as to whether young, healthy consumers will experience “rate shock” when the HIEs go live October 1. However, the Rand Corporation's analysis showed no widespread trend towards drastically higher prices in the individual market.
"The rate-shock concerns were overblown, it's likely the effect will be small." said Christine Eibner, senior economist and Rand study author. “Some people buy more generous coverage because of the law and that will lead to increased costs. In my mind, that’s not the same as rate shock because the person will be getting a better plan.”
The Rand analysis also found that more that 60% of people who shop for insurance in the exchange will be applicable for a subsidy to offset their out-of-pocket costs.
But what about those with private insurance? Since 2003, premiums for the average family under a private health plan have risen 80%. Humana spokesperson Kate Marx said some employers will see even higher premiums as certain Affordable Care Act (ACA) provisions move forward. In some instances, companies are faced with difficult decisions. UPS, for example, recently chose to exclude spousal coverage to its employees. They cited Obamacare as the reason for the decision.
"I think companies are going to look at what their options are, and ask: 'What can I do to keep these costs under control?'" said Bryan Sunderland, senior vice president for public affairs at the Kentucky Chamber of Commerce.
While the RAND findings suggest no drastic premium increases for some under the ACA, others may end up feeling the strain.
Around the Web
Premium Increases Under Obamacare May Be Overstated [Bloomberg]
Study: Obamacare Rate Concerns 'Overblown' [USA Today]
Examining Low-Value Cancer Care Trends Amidst the COVID-19 Pandemic
April 25th 2024On this episode of Managed Care Cast, we're talking with the authors of a study published in the April 2024 issue of The American Journal of Managed Care® about their findings on the rates of low-value cancer care services throughout the COVID-19 pandemic.
Listen
Navigating Health Policy in an Election Year: Insights From Dr Dennis Scanlon
April 2nd 2024On this episode of Managed Care Cast, we're talking with Dennis Scanlon, PhD, the editor in chief of The American Journal of Accountable Care®, about prior authorization, price transparency, the impact of health policy on the upcoming election, and more.
Listen
Dr Dalia Rotstein: Physicians Must Be Aware MS Affects People of All Backgrounds
April 24th 2024Dalia Rotstein, MD, MPH, emphazises the importance of awareness that multiple sclerosis (MS) impacts patients from various backgrounds as clinicians think through ways to improve access to care and research efforts in MS.
Read More
The Federal Trade Commission's (FTC's) vote to ban most employers from issuing and enforcing noncompete clauses could have varying impacts on the health care workforce; federal regulators vastly under-enforced antitrust laws in the hospital sector during the last 2 decades, resulting in increased health costs; the FDA recently found genetic evidence of the H5N1 bird flu virus in pasteurized commercially purchased milk.
Read More
Examining Low-Value Cancer Care Trends Amidst the COVID-19 Pandemic
April 25th 2024On this episode of Managed Care Cast, we're talking with the authors of a study published in the April 2024 issue of The American Journal of Managed Care® about their findings on the rates of low-value cancer care services throughout the COVID-19 pandemic.
Listen
Navigating Health Policy in an Election Year: Insights From Dr Dennis Scanlon
April 2nd 2024On this episode of Managed Care Cast, we're talking with Dennis Scanlon, PhD, the editor in chief of The American Journal of Accountable Care®, about prior authorization, price transparency, the impact of health policy on the upcoming election, and more.
Listen
Dr Dalia Rotstein: Physicians Must Be Aware MS Affects People of All Backgrounds
April 24th 2024Dalia Rotstein, MD, MPH, emphazises the importance of awareness that multiple sclerosis (MS) impacts patients from various backgrounds as clinicians think through ways to improve access to care and research efforts in MS.
Read More
The Federal Trade Commission's (FTC's) vote to ban most employers from issuing and enforcing noncompete clauses could have varying impacts on the health care workforce; federal regulators vastly under-enforced antitrust laws in the hospital sector during the last 2 decades, resulting in increased health costs; the FDA recently found genetic evidence of the H5N1 bird flu virus in pasteurized commercially purchased milk.
Read More
2 Commerce Drive
Cranbury, NJ 08512