With smaller-than-expected premium increases and with insurers expanding their reach across the state, Covered California continues to show the way for ACA Marketplace stabilization. California has strengthened the private market by reinstating the individual mandate at the state level and by adding state-funded tax credits to consumers earning up to 600% of the federal poverty level. As a result of these policies, 87% of all consumers will have more than three plans to choose from when buying through Covered California in 2020.
As Kelley Turek, director of commercial insurance at America’s Health Insurance Plans, explained,
the churn [among health plans] is finally slowing down; Companies are staying and expanding into new geographical areas […] the market works best when consumers have more choice.”
You can read the full article from California Healthline here.
