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Small Business Employee Benefits and HR Blog

ACA Marketplaces - Are Health Insurance Costs Going Up or Down?

Earlier this week, we wrote about the newest Affordable Care Act (ACA) Marketplace data that found 87% are qualifying for premium tax credits and paying, on average, just $105/month for health insurance. A natural next question is, how have premiums changed from 2014 to 2015? Are they going up, going down, or staying flat?

A new infographic by the Kaiser Family Foundation and JAMA help visualize the changes in the cost of health insurance from 2014 to 2015, and by state.Health Insurance Costs

The Visualizing Health Policy Infographic shows the change in monthly premiums by county from 2014 to 2015 for a 40-year-old person covered by the second-lowest-cost silver “benchmark” plan in the ACA's Health Insurance Marketplaces.

According to the infographic, premium rates are relatively flat. However, health insurance cost changes do vary by region.

  • Before premium tax credits, premium changes were greatest in Summit County, Colorado (45% decrease) and southeastern Alaska (34% increase), before tax credits.

  • After factoring in premium tax credits, premiums for a 40-year-old person with an annual income of $30,000 would remain flat in most of the country, as long as the enrollee changed from the 2014 benchmark plan to the plan designated as the benchmark for 2015.

Infographic - Cost of Health Insurance, Changes By State 2014- 2015

Disclaimer: The views represented in these infographics do not necessarily reflect the views of Zane Benefits, its staff, or its affiliate partners.

ACA_Premium_Changes_Infographic

Source: Kaiser Family Foundation and JAMA

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