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CMS: Average ACA plan premiums to drop by 2% in 2021 as more insurers join exchanges
Fierce Healthcare October 19, 2020
The premiums for benchmark plans sold on the Affordable Care Act’s exchanges through HealthCare.gov are expected to decline by 2% in 2021 and more insurers are expected to sell plans, a new report finds.
The Centers for Medicare & Medicaid Services announced Monday that the premium decline is part of a larger trend with the insurance exchanges, where premiums for the average plan has declined by 8% since 2018.
Overall the premiums for the second-cheapest silver plan declined by 2% for 2021. That plan is a benchmark that CMS uses to calculate the amounts for tax credits that lower the cost of insurance.
The report applies to plans sold on the HealthCare.gov website, which residents in 38 states use to...
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