|
 “With more carriers offering plans in year two, there are more
choices for consumers,” said DOI Director Andrew Boron. “Increased
competition has led to competitive pricing and individuals, families
and small businesses will have access to an even wider selection of
affordable health care options in 2015.”
DOI also released information on the average change in premium
levels across the state’s thirteen rating areas. Premiums for the
lowest cost Silver plans will see a decrease or modest increase
ranging from a 5 percent decrease to a 5 percent increase in the
majority of counties. Overall, the premiums for the lowest cost
Silver plans will see an average premium increase of just 2.6
percent across the state. Premiums for the lowest cost Bronze plan
vary from a decrease of 3 percent to an increase of 19 percent, with
an average increase of 11 percent across the state. Premiums for the
lowest cost Gold plans range from a decrease of seven percent to an
increase of 18 percent.
 Officials with GCI, or the Illinois Health Insurance Marketplace,
stressed that in order to get the best deal possible, consumers need
to compare all of the plans that are available in their area. For
example, in some cases in which a plan has premium increases,
consumers will be able to find a different plan at the same metal
level at a slightly increased or even a decreased premium.
“We have hundreds of trained professionals offering free, in-person
assistance and we encourage everyone - whether you are a first-time
enrollee or someone who enrolled last year - to compare plans before
enrolling this year,” said GCI Executive Director Jennifer Koehler.
“There are more options available and our mission is to help
consumers make a choice that works best for their budget.”
Koehler said that for consumers who are re-enrolling for the second
year, it is important that they update their income information in
order to ensure they receive the correct amount of financial
assistance. In year one, 77 percent of the 217,000 consumers who
signed up for coverage in the Marketplace received some financial
assistance based on their income.
Three additional insurers will be offering plans on the Marketplace
in 2015, including IlliniCare Health Plan, Inc., Time Insurance
Company and UnitedHealthcare of the Midwest, Inc. With these new
carriers, the following insurers are participating in 2015:
- Coventry Health and Life Insurance Company
- Coventry Health Care of Illinois, Inc.
- Health Alliance Medical Plans, Inc.
- Health Care Service Corporation, A Mutual Legal Reserve
Company (Blue Cross)
- Humana Health Plan, Inc.
- Humana Insurance Company
- IlliniCare Health Plan, Inc.
- Land of Lincoln Mutual Health Insurance Company
- Time Insurance Company
- UnitedHealthcare of the Midwest, Inc.
[to top of second column] |
Three insurers are offering plans to the Small Group
Marketplace (SHOP). In 2015 the Marketplace will offer more
statewide and multi-state plans, including 17 plans offered on
the Individual Marketplace and 13 offered on SHOP. A minimum of
56 plans will be offered in all 102 counties, which is an
increase from the 48 plans per county in 2014. Consumers in most
counties will see an increase in plan options. The increase in
plan options and participation by insurers has resulted in
increased competition that will benefit consumers.
Plans on the Marketplace are grouped by metal levels ranging from
Bronze (for lowest cost premiums) through Silver, Gold and Platinum
(highest premiums). However, Bronze plans generally have the highest
out-of-pocket costs for deductibles, co-pays and co-insurance, while
Platinum plans would have the lowest out-of-pocket costs.
In year one of the Marketplace, 56 percent of those who enrolled
picked a Silver plan, 29 percent picked a Bronze plan, 15 percent
picked Gold and 1 percent picked Platinum.
Individuals and families with income between 138 percent and 400
percent of the federal poverty level are eligible for subsidies on a
sliding scale if they obtain coverage through the Marketplace.
DOI released several examples of how the subsidies would affect the
actual rates consumers pay:
- A single 30-year old in Chicago or Peoria, with a household
income of $23,000 could be eligible for a subsidy of $72 per
month in Chicago or $88 in Peoria, that could bring their
monthly cost to $119 per month in both cities on the second
lowest cost Silver plan, versus paying $121 per month for that
plan in 2014.
- A couple from Chicago or Peoria, both aged 55, with
household income of $40,000 could be eligible for a subsidy of
$479 in Chicago and $540 in Peoria that could bring their costs
for the second lowest Silver plan to about $273 per month in
2015 versus about $276 for that plan in 2014.
Get Covered Illinois has helped more than 700,000 Illinois
residents obtain health coverage in the first year of enrollment
for the Affordable Care Act, including the Marketplace and
Medicaid enrollees.
Open enrollment for the Illinois Health Insurance Marketplace
will begin on November 15, 2014 and continue through February
15, 2015. You must select a plan byDecember 15, 2014 to avoid
being automatically re-enrolled in your 2014 plan and to ensure
you have coverage on January 1, 2015. For further information or
to enroll during open enrollment, visit the Get Covered Illinois
website at www.GetCoveredIllinois.gov or by phone at
1-866-311-1119.
[Illinois Department of Insurance] |
