ACA plan premiums down 1st time since law took effect

The average premium for the most common silver plans on the federal ACA exchanges is down 1.5 percent for the 2019 coverage year, CMS said Oct. 11.

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.

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