Covered California Preliminary Premiums for 2019
Covered California released its preliminary premiums for 2019. file:///Users/neelamgupta/Downloads/News%20&%20Press%20Release%20Center%20%7C%20Covered%20California%E2%84%A2.html
All existing plans have stayed in the market. Overall, their premiums will increase by 8.7%. Without the changes promoted by the Trump Administration to eliminate the “individual responsibility” (individual mandate) requirement, their premiums would have increased by roughly 5%.
The weighted average premiums will increase by 8.7%. The “shop and save” premiums will decrease by 0.7%. The premiums for the lowest priced bronze will increase by 10.2%. The premiums for the lowest priced silver will increase by 5.2%.
Customers using the “shop and save” function through Covered California may be able to purchase coverage at the same price as 2018. What this means is that if you wish to purchase the same level of coverage in 2019 as you did in 2018, you may want to look at the lowest priced coverage in your region to see if it includes your preferred or acceptable providers at a lower premium than you would otherwise pay.
Premium increases and the savings through “shop and save” vary by county. For example in San Francisco, average premiums will increase by 9.4% and “shop and save” premiums will increase by 1.5%. In San Diego, average premiums will increase by 9.0% and “shop and save” premiums will decrease by -3.8%. In Southwest Los Angeles, average premiums will increase by 8.6% and “shop and save” premiums will decrease by -5.2%. In Orange County, average premiums will increase by 9.0% and “shop and save” premiums will decrease by -2.2%.
Individuals qualifying for premium assistance and/or cost sharing reductions will be largely insulated from these increases. Their premiums will be primarily impacted by changes in their annual incomes.
Final rates by plan and by county or region will be available in October.
Prepared by: Lucien Wulsin
Dated: 7/19/18