:max_bytes(150000):strip_icc()/MarketplaceHealthInsurancePremiumsAre-8ec27c8353b14e1f891bf03a29149936.jpg?w=1500&resize=1500,1000&ssl=1 "Health Insurance Premiums Are Rising in 35 States—Is Yours One of Them? | Global News Avenue")
Health Insurance Premiums Are Rising in 35 States—Is Yours One of Them?
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Main points
- Bronze, Silver and Gold premiums to rise in 2025 in 35 states Affordable Care Act (ACA) Plans (aka Obamacare). Scores in each of these three categories fell on six states.
- Prices for at least some products will rise by 35% Coverage categories— Vermont, Alaska and North Dakota all saw double-digit increases in bronze, silver and gold medals.
- The lowest-cost silver plan in New Hampshire has an average premium of $320, up from $1,275 in neighboring Vermont.
- Price changes depend on state-specific regulations, market conditions, and general trends such as rising prescription costs and higher service utilization among enrollees.
- tax credit Marketplace premium costs can be significantly reduced for most participants, but the expanded federal subsidy program ends in 2026.
First the good news. In a few states, plan premiums health insurance market It will decline by 2025. but Premium That number is rising rapidly in most other countries, some as high as 35%, according to a KFF analysis of state and federal data.
Average premiums are falling for gold, silver and bronze plans in these six states:
- Louisiana
- Iowa
- alabama
- Oklahoma
- missouri
- south carolina
However, 35 states and the District of Columbia saw premiums increase across the board, with the remaining states experiencing increases and decreases based on metal levels. Premiums for lowest-cost silver plans nationwide average increase of 4%.
In three states: Vermont, Alaska, and North Dakota, double-digit premium percentage increases will affect all metal levels, ranging from 13% (North Dakota, the lowest-cost silver plan) to 35% (Vermont, lowest cost silver plan).
This increase might not be surprising if premiums were lower, but Vermont’s ACA premiums are already among the highest in the nation. In 2024, the average lowest-cost silver plan cost in Vermont is $948. Next year, that premium will rise to $1,275.
Interestingly, ACA Marketplace shoppers across the border in New Hampshire may find average premiums about $950 lower than their neighbors. Here are the highest and lowest average premiums for each metal level across the U.S.
| Highest and lowest average premiums for each metal grade | |||
|---|---|---|---|
| state | cost | Changes 2024-2025, rounded | |
| Lowest cost bronze medal | Maryland | $265 | 4% |
| The most expensive bronze medal | Vermont | $808 | 11% |
| lowest cost silver | New Hampshire | $320 | -1% |
| most expensive silver | Vermont | $1,275 | 35% |
| lowest cost gold | New Hampshire | $354 | -3% |
| most expensive gold | Vermont | $1,139 | 12% |
The five states with the highest silver plan costs are:
- Vermont
- Alaska
- west virginia
- Wyoming
- New York
The cheapest states are:
- New Hampshire
- minnesota
- Maryland
- virginia
- Indiana
Apply for subsidies to significantly reduce costs
Like most states, the vast majority of enrollees in Vermont do not pay such high premiums. They can take advantage of federal and state assistance programs or subsidies to help offset the cost of premiums. For example, people in Vermont who use federal subsidies pay just $243.
federal premium tax credit Lower the Obamacare premiums you need to pay. they are included Affordable Care Act and in American Rescue Plan Act 2021. Expansion period extended to 2025 Inflation reduction method.
Now, 92% of enrollees receive the Advanced Tax Credit, and half Reduce cost sharing (This will lower your out-of-pocket limit). Four out of five Obamacare enrollees should be able to get coverage for $10 a month or less after subsidies in 2025.
you can Apply for credit Report your income and other information when you enroll in insurance. Some states have their own subsidies, so check with your state’s health insurance market to see if they are available.
This may be the last year many people are eligible for large subsidies. If the Inflation Reduction Act tax credit enhancements expire as scheduled in late 2025, premiums will rise sharply in all states for all ages and income levels by 2026, according to the Center on Budget and Policy Priorities. The incoming Congress will need to extend those deadlines, and Republicans have previously said they do not support such efforts.
Why do prices rise more in some states?
Premium changes vary from state to state, depending on changes in the following factors:
- How often a registrant uses the service
- Cost of services, such as high hospital bills
- The cost of prescription drugs, including Ozempic
- Number of metal level registrants Plan Category
- Intrastate supplier competition
- State requirements for providers
In Vermont, for example, only two health insurance companies sell marketplace plans, limiting competition and leading to high premiums.
The other has to do with regulations. In May, Vermont passed a law limiting insurers’ power over prior authorizations, claims and step-by-step treatment of medications, which insurers warned could lead to higher prices. For example, prior authorization may delay access to care, but is intended to control costs.
State Medicaid policies also affect ACA premiums. Oregon enacted Medicaid The expansion is planned for this year, which means some people will no longer have to pay for coverage on the state marketplace. “Companies have to make actuarial adjustments to account for the reduction in the number of people who need coverage, and they increase the cost of bronze plans,” said insurance broker Joshua Brooker, a member of the National Association of Benefits and Insurance Professionals’ individual market working group. express.
Bronze plan premiums in Oregon will increase nearly 12%, with monthly costs expected to be $408 in 2025.
Compare this to Idaho. “Idaho’s average percentage of Bronze Program participants is well above national and regional benchmarks,” Brooke said. As a result, competition for the bronze medal program is “more intense.”
In Idaho, bronze premiums will drop 5% by 2025 to an average monthly cost of $307.
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