Subsidies Available To Offset Health Exchange Rate Increases
An area health care consumer’s organization says people should not fear an increase in Affordable Care Act exchange premiums for 2018.
Claudia Lenhoff, executive director of the Champaign County Health Care Consumers, thinks even with ACA exchange premiums going up, there’s a way to offset the cost. "It’s important to remember that in the marketplace people are able to qualify for subsidies to make those rates more affordable. The subsidies help offset the cost of monthly premiums," Lenhoff explained.
Lenhoff adds that while the state has announced that rates are going up, it is still too early to know the impact locally.
The Illinois Department of Insurance has announced that statewide rates increase up to 29% for the lowest Bronze plans, up to 39% for the lowest Silver plans and up to 21% for the lowest Gold plans.
The ACA open enrollment period begins November 1 and runs until Debember 15.