This is the first time premiums for silver plans have dropped since 2014, when the ACA took effect. Between 2017-18, the average premium for silver plans grew an average 37 percent, CMS said, after rising an average 25 percent between 2016-17.
CMS credited the Trump administration for the decrease. “These premium reductions along with increased issuer participation strongly suggest that the numerous actions taken by the Trump administration to stabilize the market are working,” the agency said in a statement. However, insurer experts were quick to disagree, pointing to the high premium hikes of 2018 as the main reason premiums are stabilizing or declining this year, according to The Hill. Many insurers overpriced their plans in light of actions taken by the Trump administration to change the ACA in 2017.
More articles on payers:
Humana fined for network deficiencies at 20+ hospitals, surgery centers
The 2019 Medicare plans with 5 stars
Kaiser blames ‘unfair business practices’ for $65M loss in Colorado in 3 years
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.