Covered California Silver Plan Surcharge

That s because four out of five silver policyholders get federal premium assistance a tax credit separate from the csrs that increases as their costs increase.

Covered california silver plan surcharge.

Covered california silver plans are a popular choice for many people. The decision to impose a 12 4 surcharge on silver level health plans in 2018 means the total premium increase for those policies will average nearly 25 according to covered california. In 2018 anthem blue cross and healthnet are leaving some parts of the state. California s insurance commissioner pointed the finger at the trump administration.

The average surcharge on rates is 12 4 but it will vary for each insurance company. Covered california has touted that the average state wide rate increase for 2020 is a low 0 8. So potentially covered ca silver plan enrollees could experience an average 24 9 increase in their premiums. Is there any good news.

Under this plan popular services like office visits generic drugs x rays and labs are covered at a flat fee copay. In the absence of a federal commitment to continue funding cost sharing reduction csr reimbursements through the upcoming year covered california health insurance companies will add a surcharge to silver tier products in 2018. Covered california expects most policyholders facing the surcharge won t pay more. The csr surcharge would be on all covered ca silver plans and would be in addition to the 2018 rate increase of 12 5.

Covered california members will soon begin receiving renewal notices. What they failed to mention was that the deductibles for the silver 70 and enhanced silver plans 73 and 87 were increased between 60 to 115 over 2019 plans. The covered california silver 70 plan offers a middle of the road option for people who want affordable health insurance as well as some good benefits. Members who do not qualify for any tax credits would be hit the hardest.

More often than not they provide the best bang for your buck the affordable monthly premiums mid size deductibles and discounted fees for commonly needed medical services make silver plans an attractive option for those who are trying to balance cost with benefits.