eHealth “Half-time Report” on the 2018 Open Enrollment Period: Some Consumers Paying More Than $30,000 Per Year for Obama...
November 27 2017 - 9:00AM
Business Wire
Some unsubsidized individuals are paying
less than $200 per month while others pay over ten times more;
average premiums increase 15-23 percent
As the nationwide open enrollment period for 2018 health
insurance hits the mid-way point, eHealth, Inc. (NASDAQ: EHTH)
(eHealth.com) has released a “half-time report” on costs and trends
among eHealth shoppers. eHealth’s data complements the latest
exchange figures from the Department of Health and Human Services
and state-based exchanges, by providing insight into the
unsubsidized portion of the market.
eHealth’s report is based on applications submitted nationwide
for individual and family health insurance plans by unsubsidized
shoppers between November 1 and November 20, 2017. The nationwide
open enrollment period under the Affordable Care Act (the law known
as Obamacare) is scheduled to end December 15, 2017.
LOWEST, HIGHEST AND AVERAGE PREMIUMS
In preparing the figures below, eHealth reviewed the lowest,
highest and average premiums for Obamacare-compliant major medical
plans selected nationwide by unsubsidized eHealth shoppers since
the beginning of the 2018 open enrollment period. These figures do
not include annual deductibles, which are commonly as high as
$6,000 per year for individuals and $12,000 per year for
families.
The gap between the lowest premium and the highest premium for
plans selected within the same metal level ranges from about $1,500
to $2,500 per month.
Individual plan
selections
Bronze plans:
- Lowest monthly premium: $153 ($1,836
per year)
- Highest monthly premium: $1,668
($20,016 per year)
- Average monthly premium: $452
($5,424 per year)
- Year-over-year change in price:
21 percent increase in average premium since 2017 open enrollment
($374/month)*
Silver plans:
- Lowest monthly premium: $180 ($2,160
per year)
- Highest monthly premium: $1,739
($20,868 per year)
- Average monthly premium: $514
($6,168 per year)
- Year-over-year change in price:
23 percent increase in average premium since 2017 open enrollment
($418/month)*
Gold plans:
- Lowest monthly premium: $213 ($2,556
per year)
- Highest monthly premium: $2,211
($26,532 per year)
- Average monthly premium: $613
($7,356 per year)
- Year-over-year change in price:
22 percent increase in average premium since 2017 open enrollment
($502/month)*
Family plan selections
Bronze plans:
- Lowest monthly premium: $354 ($4,248
per year)
- Highest monthly premium: $2,704
($32,448 per year)
- Average monthly premium:
$1,077 ($12,924 per year)
- Year-over-year change in price:
19 percent increase in average premium since 2017 open enrollment
($903/month)*
Silver plans:
- Lowest monthly premium: $473 ($5,676
per year)
- Highest monthly premium: $2,900
($34,800 per year)
- Average monthly premium:
$1,247 (14,964 per year)
- Year-over-year change in price:
18 percent increase in average premium since 2017 open enrollment
($1,061/month)*
Gold plans:
- Lowest monthly premium: $561 ($6,732
per year)
- Highest monthly premium: $3,230
($38,760 per year)
- Average monthly premium:
$1,435 ($17,220 per year)
- Year-over-year change in price:
15 percent increase in average premium since 2017 open enrollment
($1,252/month)*
PLAN SELECTION BY METAL LEVEL
Comparing metal level plans selected from November 1-20 for the
current open enrollment period and last year, eHealth has found
that a modest but significant number of unsubsidized shoppers are
trading in silver plans for gold plans.
- Among individuals, 3 percent fewer are
choosing silver plans, while 2 percent more are choosing
catastrophic plans and 3 percent more are choosing gold plans
- Among families, 4 percent fewer are
choosing silver plans and 2 percent fewer are choosing bronze
plans, while 6 percent more are choosing gold plans
Metal-level plan selection among individuals
2017 Open 2018
Open Enrollment – Enrollment –
Nov. 1-20 Nov. 1-20 Bronze 42%
41%
Silver 33% 30%
Gold
10% 13%
Platinum 3% 3%
Catastrophic 12% 14%
Metal-level
plan selection among families
2017 Open 2018 Open Enrollment –
Enrollment – Nov. 1-20 Nov.
1-20 Bronze 44% 42%
Silver
39% 35%
Gold 12% 18%
Platinum
3% 3%
Catastrophic 3% 3%
LOOKING FORWARD TO OPEN ENROLLMENT’S SECOND HALF
In the past two open enrollment periods (occurring in 2015 and
2016), eHealth has seen a 90 percent increase in the number of
health insurance shoppers between the week of Thanksgiving and the
week after. eHealth will continue to monitor shopping trends and
costs among unsubsidized health insurance shoppers for the second
half of open enrollment and report on final figures.
A NOTE ABOUT PLAN PRICES
Plan prices shown are based on eHealth’s customer data for areas
where eHealth sells unsubsidized Obamacare-compliant major medical
plans. The high, low, and average plan prices shown do not
necessarily reflect actual plan prices available to any specific
person or in any specific region. Actual plan prices vary by
geographical area, age, and other factors. In addition, the plans
available in each state vary. Finally, the plans available for
purchase by unsubsidized customers on eHealth do not necessarily
reflect all plans that may be available in a particular area.
Percentages and dollars have been rounded to the nearest full
percentage point or dollar.
Notes:
* See eHealth’s Health Insurance Price Index Report for the 2017
Open Enrollment Period.
About eHealth
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.com, a leading private
online health insurance exchange where individuals, families and
small businesses can compare health insurance products from
brand-name insurers side by side and purchase and enroll in
coverage online and over the phone. eHealth offers thousands of
individual, family and small business health plans underwritten by
many of the nation's leading health insurance companies. eHealth
(through its subsidiaries) is licensed to sell health insurance in
all 50 states and the District of Columbia. eHealth also offers
educational resources, exceptional telephonic support, and powerful
online and pharmacy-based tools to help Medicare beneficiaries
navigate Medicare health insurance options, choose the right plan
and enroll in select plans online or over the phone through
Medicare.com (www.Medicare.com), eHealthMedicare.com
(www.eHealthMedicare.com) and PlanPrescriber.com
(www.PlanPrescriber.com).
For more health insurance news and information, visit
eHealth's Consumer Resource Center.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171127005115/en/
DMA Communications for eHealth, Inc.Sande Drew,
916-207-7674sande.drew@ehealth.comoreHealth, Inc.Lisa Zamosky,
650-864-6032lisa.zamosky@ehealth.com
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