Covered California premiums projected to rise 11 percent in 2019 [View all]
Source: San Francisco Chronicle
The elimination of the Affordable Care Act’s requirement to buy health insurance, which takes effect in 2019, is expected to lead to a 12 percent drop in enrollment and an 11 percent rise in insurance premiums for Californians buying health plans on the individual market, according to estimates in a proposed annual budget released by Covered California, the state health insurance marketplace, on Thursday.
In California, about 2.4 million people buy health plans in the individual market. That includes 1.3 million people who receive Affordable Care Act federal subsidies to buy insurance through Covered California, and roughly 1.2 million who buy plans without subsidies.
The Affordable Care Act, sometimes referred to as “Obamacare,” requires people to buy health insurance or pay a tax penalty. The requirement, known as the individual mandate, is considered one of the most important and controversial components of the health law. Congress repealed the mandate as part of a tax bill passed in December, but the repeal does not take effect until 2019.
Read more: https://www.sfchronicle.com/business/article/Covered-California-premiums-projected-to-rise-11-12922990.php
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