More Competition, Less Inflation: Cost Of Insurance Curbed On Exchanges With More Consumer Choice
A new report finds that more people who enrolled in health insurance on the federally run marketplaces in 2015 had a greater number of plans to pick from than the previous year. That increased competition helped keep down premium increases.
The New York Times:
Increased Competition Kept Lid On Health Insurance Inflation, U.S. Says
The Obama administration said on Thursday that many consumers were benefiting from increased competition among insurers under the Affordable Care Act. Most people who bought insurance through the federal marketplace had a greater choice of health plans this year than in 2014, the administration said, and premiums rose less in counties where more insurers were competing for business. (Pear, 7/30)
The Washington Post:
HHS: More Competition On Insurance Exchanges Curbed Premium Rise
Most Americans who signed up for coverage on the federally run health insurance marketplaces had more choice of health plans in 2015 compared with the previous year, and the increased competition helped hold down the growth in premiums, according to a report released Thursday by federal officials. In 2015, 86 percent of consumers could choose from plans offered by at least three insurers, up from 70 percent in 2014. Premiums increased an average of just 2 percent for one of the most popular types of plans between 2014 and 2015. (Sun, 7/30)
USA Today:
Report: Competition On ACA Federal Exchange Rose Between 2014 And 2015
Competition among insurers offering plans on the federal health care exchange rose between last year and this year, tamping down growth in premiums, says a federal report released Thursday. Meena Seshamani, director of the Office of Health Reform in the U.S. Department of Health and Human Services, calls that good news. "We want to promote competition and choice for consumers," she says. (Ungar, 7/30)
CQ Healthbeat:
HHS: Cost Of Health Law Coverage Fell With More Competition
Increased competition among insurers vying for customers on the health law’s insurance exchanges helped drive down premiums in 2015, the Health and Human Services Department said in a report Thursday. During the 2015 open enrollment period, 86 percent of consumers shopping on the exchanges established by the overhaul could choose from at least three issuers, up from 70 percent in 2014, according to the report on competition and choice. (Zanona, 7/30)
