As the second open enrollment period under the Patient Protection and Affordable Care Act moves forward, consumers have more choices than last year when it comes to affordable marketplace health insurance plans.
However, premiums for some plans will increase next year. A report from the Department of Health and Human Services shows there will be a 25 percent increase in issuers participating in the marketplace in 2015. In addition, about 91 percent of consumers – up from 74 percent in 2014 — will be able to pick from three or more issuers next year.
But premiums for the second-lowest cost and lowest-cost benchmark silver plans will go up 2 percent on average (before tax credits) and 5 percent on average respectively this year, according to the report.
Still, the report advises that consumers look at their options since plans with the lowest prices may have changed.
More articles on premiums:
3 things to know about worker out-of-pocket health costs
Survey: Privately insured still pay pricey medical bills out-of-pocket
Low-priced plans on government exchange may decrease insurance tax credits for consumers