Premiums for Covered California, the state's health insurance marketplace, will go up an average of 4.2% in 2015 for the 1.4 million Californians now enrolled in the exchange.
Plan benefits will be largely unchanged, although children's dental benefits will be included in all Covered California plans in 2015. Adult dental benefits will be offered at an additional cost.
Premiums will vary by people's age and where they live in California. Californians will have a choice of plans from the state's four major insurers: Anthem Blue Cross, Blue Shield, Kaiser Permanente, and Health Net, as well as six regional plans: Chinese Community Health Plan, L.A. Care Health Plan, Molina Healthcare, Sharp Health Plan, Valley Health Plan, and Western Health Advantage.
All insurers submitted bids for products that include children’s dental plans, making it convenient and affordable for families to get dental care for their children, according to Covered California.
Those currently insured through the exchange will see the following premium changes:
- 16% will see rates remain stable or go down.
- 35% will see premiums increase 1% to 5%.
- 36% will see increases of 5% to 8%.
- 13% will see increases of more than 8%, with some as high as 15%.
The rates submitted by the selected insurance companies are tentative and subject to an independent reasonability review by the state’s regulators.
Additionally, 90% of consumers currently enrolled in health insurance plans through Covered California are receiving federal subsidies to help reduce their overall costs. In most areas of the state, the amount of subsidy that individuals receive will either increase or remain very close to 2014 subsidy amounts. This means that for many consumers, any increase in premium will be offset by an increase in subsidy.
In response to customer feedback, some health insurance plans will offer expanded provider networks so that Californians can choose from a wider selection of doctors.
Open enrollment for 2015 begins November 15. Covered California has launched its Shop and Compare Tool for people who want to look at plans and products in their area and also get a preliminary estimate of costs and premium assistance.
