posted by Alicia Caramenico
on April 28, 2016
Health plans are currently in the process of developing and submitting proposed premium rates for the 2017 Open Enrollment cycle. While Open Enrollment is still months away, it’s important to understand the unique dynamics impacting the cost of coverage. Premiums reflect a wide range of factors, including the overall health of the covered population, the cost of providing care to individuals in local markets, changes to the premium stabilization programs, and the addition of state mandates and fees.
That means there will be a wide variation in premium costs across the country – and even by local markets. Take California for example. More competitive hospital markets, such as Los Angeles, translated into lower premiums for consumers compared to highly concentrated hospital markets, such as those in San Francisco and Northern California.
We’re going to break down these premium cost drivers and more over the next several weeks. Keep updated here for new developments on premiums and health insurance for the upcoming Enrollment period.