Covered California, California’s state-based health insurance marketplace established under the Patient Protection and Affordable Care Act, has announced tentative premiums and federal tax credit subsidies for individual health insurance coverage from the ten health plans that will be offering health insurance to Californians through the marketplace in 2015. (One local health plan currently participating in the marketplace, the Contra Costa Health Plan, has decided not to offer insurance through Covered California in 2015). While some rates increased and others decreased, compared to this current year’s rates, the average rates statewide increased 4.2%. The changes in rates were different in the 19 geographic regions defined by Covered California, with a highest average increase of 6.6% in Region 4 (San Francisco), compared to an average decrease of 1.9% in Region 10 (San Joaquin, Stanislaus, Merced, Mariposa, and Tulare counties).
The rates are subject to final review and approval by Covered California, California’s Department of Managed Health Care, and California’s Department of Insurance. The open enrollment period for health insurance coverage that would be effective beginning January 1, 2015 will begin on November 15, 2014. Meanwhile, consumers can use the Covered California website to “shop and compare” with the new rates.
Family rates, rates for newly available dental coverage, and rates for small businesses will be announced later.