How Will the Affordable Care Act change Health Insurance Plans?
The Florida Office of Insurance Regulation has compiled data on Projected Health Insurance Premiums for policies that comply with the Patient Protection and Affordable Care Act (PPACA) available in the individual health insurance marketplace beginning in January.
Click this title: “Individual Monthly Health Insurance Premiums Before and After PPACA” to link to the document.
A news release stated that the office utilized two methods for calculating potential premium increases. The first used a hypothetical mid-level “silver plan” created by using adjustments to a standard plan in Florida, and compared this to actual silver plans filed. This resulted in an average 35.2 percent increase.
A second method compared company projected premiums to a marketplace average for policies without the 2014 PPACA provisions. This resulted in an average 39.3 percent increase. Neither method incorporated potential federal subsidies or credits that might be available to individuals.
These documents will continue to be updated as more plans are reviewed and accepted by the office, which intends to release data for PPACA small group premiums in the near future.
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