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%.
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Lauren Flynn Kelly Executive Editor, AIS Health, and Managing Editor, Radar on Medicare Advantage
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Angela Maas Managing Editor, Radar on Specialty Pharmacy and Spotlight on Market Access
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Leslie Small Managing Editor, Health Plan Weekly and Radar on Drug Benefits
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Peter Johnson Senior Editor, Health Plan Weekly and Radar on Drug Benefits
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Tim Casey Reporter, Health Plan Weekly and Radar on Drug Benefits
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Carina Belles Reporter, Radar on Medicare Advantage and Spotlight on Market Access
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Jinghong Chen Reporter, Health Plan Weekly and Radar on Drug Benefits
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