Average ACA premium up 6% in 2015

An analysis of preliminary state filings has found that ACA insurance premiums are expected to rise an average of 6 percent in 2015 (Source: “Affordable Care Act rates up just 6%,” Bloomberg News via Columbus Dispatch, Nov. 1, 2014).

According to federal officials, one reason might be that insurers who came in high in 2014 found themselves beaten out for enrollments. And 77 new insurance plans will be competing for customers in 2015. in Ohio, the number of insurers has risen from 12 to 16.

Insurers and the Obama administration have long cautioned that the new markets created by the law would take time to settle, as health plans assess their new customers and work through hiccups in their relationship with the government. The Affordable Care Act explicitly recognizes a transition period, with programs through 2016 to backstop insurers’ potential financial losses.