Individual Exchanges Are Likely To Remain Stable in 2020
Individual marketplaces under the Affordable Care Act (ACA) have seen premiums stabilize, according to an analysis of 2020 open enrollment data performed by McKinsey & Co Inc. Health exchange experts tell AIS Health that increased payer participation and market maturity are responsible for the increased consistency in prices.
Notable insights from the report include:
✦ The number of counties with a single carrier on exchanges dropped 11% year over year to 25% in 2020.
✦ Approximately 9% of consumers could choose only one carrier in 2020, down from 16% in 2019.
✦ This year, 66% of consumers were able to choose between at least three carriers.
✦ Average premium prices went down by 1% year over year for all plan tiers except platinum, which increased by 3%.
Meet Our Reporters
-
Lauren Flynn Kelly Executive Editor, AIS Health, and Managing Editor, Radar on Medicare Advantage
View Lauren Flynn Kelly's Profile -
Angela Maas Managing Editor, Radar on Specialty Pharmacy and Spotlight on Market Access
View Angela Maas's Profile -
Leslie Small Managing Editor, Health Plan Weekly and Radar on Drug Benefits
View Leslie Small's Profile -
Peter Johnson Reporter, Health Plan Weekly and Radar on Drug Benefits
View Peter Johnson's Profile -
Tim Casey Reporter, Health Plan Weekly and Radar on Drug Benefits
View Tim Casey's Profile -
Carina Belles Reporter, Radar on Medicare Advantage and Spotlight on Market Access
View Carina Belles's Profile -
Jinghong Chen Reporter, Health Plan Weekly and Radar on Drug Benefits
View Jinghong Chen's Profile