As health insurers start to file their premium rate proposals for qualified health plans, a new report from the Obama administration points out that Affordable Care Act plan premiums rose an average of only 8 percent last year despite predictions of widespread double-digit increases.
That disparity is because insurers' initial filings are "not able to predict what premiums marketplace consumers will actually pay next year because they do not account for rate review, consumer shopping behavior or tax credits," according to the report from the Department of Health and Human Services' Assistant Secretary for Planning and Evaluation.
The Centers for Medicare & Medicaid Services predicted in October that ACA plan premiums will increase about 7.5 percent in 2016.
Additionally, the report says that for 85 percent of Healthcare.gov consumers who were eligible for tax credits, premiums only increased byan average of 4 percent.
To learn more:
- read the report (.pdf)