Premiums for health insurance through the Affordable Care Act – or “Obamacare” – are about to be less affordable for many.
The average premiums under Obamacare are projected to rise by 25 percent next year. Originally it was projected that the going rate in Indiana for the “silver” plan would actually be about 3 percent cheaper.
However, a report from the Indiana Department of Insurance is correcting what they’re calling the “misleading” reports about the premiums in the state of Indiana.
You can read the entire statement from the Indiana Department of Insurance below.
The Indiana Department of Insurance today (Tuesday) issued the following statement in response to a misleading news story about rates on the Indiana Marketplace.
Specifically, the story states: “In Indiana, the benchmark plan will be 3 percent cheaper.”
“The health insurance rates in the Indiana Marketplace are going to increase. In fact, many Hoosiers will see a double digit increase in rates. The way the reporter characterized the rate change misleads Hoosiers,” said Stephen W. Robertson, Commissioner of Indiana Department of Insurance.
Following are facts:
- Next year, based upon current enrollment, the average rate will increase by 18.7 percent over the 2016 rates for the IndianaMarketplace.
- Overall, the premiums in the Indiana individual market have gone up by almost 70 percent since the Affordable Care Act was implemented. Members currently enrolled in the state’s largest plan may see up to an average 29 percent increase.
- For 2017, four carriers will be selling on the Indiana Marketplace: Anthem, CareSource, Celtic (MHS) and MDwise Marketplace. This is four fewer carriers than in 2016.
- The following plans have withdrawn from the Indiana Marketplace and will no longer offer health plans on the Marketplace: IU Health Plan, Physicians Health Plan of Northern Indiana (PHP), All Savers, and Southeastern Indiana Health Organization (SIHO).
- More than 68,000 Hoosiers lost their health plans when these carriers left the Marketplace.
Click here for more information on the Indiana 2017 Federal Marketplace filings.
