Ah, at last, another state which includes both the average requested rate changes for 2024 as well as the number of enrollees each carrier has for both the individual and small group markets in clear, transparent language!
Generally, according to NC Insurance laws, health insurance rates must not be excessive, inadequate, or unfairly discriminatory, and must exhibit a reasonable relationship to the benefits provided in the policy.
The 2024 ACA Open Enrollment Period (OEP) is STILL ongoing in 49 states +DC.
This is the best OEP ever for the ACA for several reasons:
The expanded/enhanced premium subsidies first introduced in 2021 via the American Rescue Plan, which make premiums more affordable for those who already qualified while expanding eligibility to millions who weren't previously eligible, are continuing through 2025 via the Inflation Reduction Act;
A dozen states are either launching or expanding their own state-based subsidy programs to make ACA plans even more affordable for their enrollees;
And remember, millions of people will be eligible for zero premium comprehensive major medical policies.
If you've never enrolled in an ACA healthcare policy before, or if you looked into it a few years back but weren't impressed, please give it another shot now. Thanks to these major improvements it's a whole different ballgame.
Here's some important things to know when you #GetCovered for 2024:
Every year I pore over hundreds of annual health insurance policy rate filings from carriers participating in the individual and small group markets, attempting to run weighted average rate changes on a state-by-state level. I then compile all 50 states (+DC) into a national weighted average rate change table.
I generally do this twice for every state: First, over the spring and summer, I crunch the numbers for the carriers preliminary rate change requests. These are submitted to the state regulatory authorities (or in a few cases, federal regulators), who run their own actuarial analysis and then either approve the requests as is, lower the requested rates or (in a few cases) even raise rates more than requested, since part of the regulators job is to ensure that the insurance carriers have enough cash flow to actually pay their claims over the upcoming year.
In some cases, the carriers actually resubmit revised filings later on in the summer if there's some material change to their finances, the marketplace or other policies which change their analysis.
Today, the Biden-Harris Administration (the Administration), through the Departments of Health and Human Services (HHS), Labor, and the Treasury (the Departments), along with the Office of Personnel Management (OPM), released a proposed rule on the No Surprises Act’s Federal independent dispute resolution (IDR) process.
As Open Enrollment approaches on November 1, 2023, Maine residents can get an early look at 2024 health insurance options that meet their needs and budgets
The Maine Department of Health and Human Services (DHHS) Office of the Health Insurance Marketplace (OHIM) announced today that Maine people can now visit CoverME.gov to preview quality health plans for 2024 in advance of Open Enrollment, which begins on November 1, 2023.
During this “window-shopping” period, consumers can use the Plan Compare Tool to evaluate available private health insurance plans and estimate their costs without having to sign up for an account or complete a full application. The tool also allows consumers to view information about coverage and out-of-pocket costs for prescription drugs.
Funding supports free tailored assistance to residents looking for coverage through the state’s official health insurance marketplace, Get Covered New Jersey
TRENTON — Governor Phil Murphy and Department of Banking and Insurance Acting Commissioner Justin Zimmerman announced today $5 million in Navigator grants awards to 26 community organizations to assist in enrolling uninsured and underinsured New Jersey residents in health coverage through Get Covered New Jersey, New Jersey’s Official Health Insurance Marketplace during the Affordable Care Act Open Enrollment Period and throughout the year. The 2023-2024 Open Enrollment Period starts November 1st.
The grant-funded health insurance Navigators will provide free outreach, education, and enrollment assistance to residents shopping for health insurance and help them apply for financial help.
The Marketplace Open Enrollment Period on HealthCare.gov generally runs from November 1 to January 15. Consumers who enroll by midnight December 15 (5 a.m. EST on December 16) can get full-year coverage that starts January 1, 2024. In 2024, January 15 is a federal holiday; accordingly, consumers will have until midnight on Tuesday, January 16 (5 a.m. EST on January 17) to enroll in coverage. Consumers who enroll after December 15 but before the deadline in January will have coverage that starts February 1, 2024.
Consumers continue to have more choices and stable premiums
The Biden-Harris Administration believes health coverage is a right, not a privilege, and is committed to investing in a robust Marketplace Open Enrollment campaign so everyone who needs health coverage can easily sign up for it. Starting today, HealthCare.gov consumers can preview their health care coverage options and see detailed information about 2024 health insurance plans and prices offered in their area ahead of the Open Enrollment period that begins November 1.
As we begin the 11th Open Enrollment period, the Marketplace is stronger than ever with lower out-of-pocket premiums thanks to the continuation of enhanced financial assistance under the Inflation Reduction Act. Thanks to the Inflation Reduction Act, nearly 15 million Americans are saving an average of $800 a year on their health insurance premiums.
CEO Available for Interviews at Navigator Locations
WHO: James Michel, Chief Executive Officer of Access Health CT (AHCT), will be visiting Access Health CT Navigator locations Wednesday, Nov. 1, 2023 in Hartford and Norwich, and Thursday, Nov. 2, 2023 in Bridgeport and Waterbury.
He is available for media interviews at each Navigator location by request. Connecticut residents can get free, in-person help from enrollment specialists at these Navigator locations year-round.
MARYLAND HEALTH CONNECTION HOSTS HISPANIC HEALTH ACCESS ROUNDTABLE
In Celebration of Hispanic Heritage Month, MHC Engages in Community Initiatives to Empower Community
BALTIMORE (Oct. 20, 2023) – Maryland Health Connection continues to demonstrate its commitment to fostering health equity and improving access to coverage for all communities, including the Hispanic community as Hispanic Heritage Month wraps up and Open Enrollment approaches. In a collaborative effort to engage and inform the Latino community, Maryland Health Connection hosted the Hispanic Health Access Roundtable on Oct. 17, at the Montgomery College Rockville Campus.
