A new report shows Obamacare prices will rise an average of about three percent next year, a significant drop from last year’s increase.
Chris Sloan with the health care consulting firm Avalere Health says research shows premiums will increase only moderately about 3.3 percent on average.
“Last year we saw premium increases around 30 percent. Going into this year it looks like health plans have figured out this market, figured out how to price it,” Sloan said.
He says consumers in 11 states can actually expect to pay less next year.
For example, premiums in Iowa, North Carolina, and Tennessee are forecast to decrease in 2019.
Avalear says premiums are settling down because insurance companies are becoming better acquainted with the ever-changing healthcare market, but the report is not good for all healthcare markets.
In seven states Avalear expects prices to jump by double digits. They include:
Hawaii – 13.8%
West Virginia- 15.1 %
Open enrollment for the Affordable Care Act insurance market begins November 1st and Sloan says even if your premium is going up, you may have more options than you think.
“Just see what the options are; you may be surprised by a new entrant in your state, and you maybe have some more choices,” he said.