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%.

0 Comments
© 2021 MMIT

Peter Johnson

Peter has been a reporter for nearly a decade. Before joining AIS Health, Peter covered a wide variety of topics in his hometown of Seattle, where he continues to live. Peter’s work has appeared in publications including The Atlantic and The Stranger. Peter attended Colby College.

Related Posts

https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured_AdobeStock_321525828.jpg
November 24

‘Long COVID’ Presents Big Challenges for Health Plans, Patients

READ MORE
https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured-Image-Pathway-or-Perish-The-Two-Pronged-Hurdle-to-Ensuring-Access-in-Oncology.jpg
November 24

Insurers Applaud New CMMI Push for Risk-Based Contracting

READ MORE
https://www.mmitnetwork.com/wp-content/uploads/2021/11/WordPress-Featured_AdobeStock_176559451.jpg
November 24

Non-Emergent 911 Calls Offer Intervention Opportunity

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today