Covered California Raises Premiums – And it isn’t the Only One
Have you heard the latest news on Covered California? Last week, news broke that
California's health insurance exchange will increase its premiums by anywhere from 13 to 17 percent by 2017. This is all thanks to two major insurance companies requesting substantial rate increases from the program: Anthem, which requested a 17 percent increase, and Blue Shield, which is seeking a 20 percent increase.
These premium increases will impact a whopping 1.4 million Californians who currently receive healthcare coverage under the Covered California plan. The good news is, the proposed rate hikes are still subject to review by state regulators. The better news is, consumers can choose not to participate by seeking healthcare alternatives.
Although we primarily work with businesses to provide lower cost coverage to employees, GM&A Healthcare Consultants can also work with consumers who are tired of the rising costs of insuring themselves –not just consumers who insure themselves with a PPO, but also consumers who participate in a state exchange
Other State Exchanges with Rising Premiums
Although Covered California seems to be getting the bulk of the media coverage when it comes to state exchanges with rising premiums, it isn’t the only state exchange to do so. Take a look at these startling rate increase projections from around the U.S.:
- Alaska: 9.8 percent rate increase
- Washington State: 13 percent rate increase
- New Mexico: 25 percent rate increase
Can you believe it? So no matter where in the country you are: If you rely on a state exchange for your healthcare coverage, expect to see the amount you pay for that coverage to start rising.
What if you’re an employer?
What if you aren’t an employee, but rather an employer that has thus far been unable to cover employees? If so, it’s time to give them a better way than the state exchange. GM&A can help you provide them affordable, high quality coverage with direct contracting. That way, you’ll never lose another employee to a company that provides healthcare benefits! They can stay at your place of business, because you will provide them the coverage they need – all at a cost that is affordable for you.
We were among the many healthcare experts who predicted this would happen in the early days of the Affordable Care Act – and finally, everyone is waking up to the fact that the Affordable Care Act isn’t so affordable after all. There’s a better, more affordable way for employers and employees, and that way is directly contracting with healthcare providers. Ask GM&A for more information!