Health insurance subsidies all over the country have been cut by the Administration causing rate increases.
Frisco Health Insurance just got more expensive. The administration announced last week that subsidies for health insurance would no longer be offered. Insurers, anticipating this move, have submitted higher prices for monthly premiums in 2018 to recoup the money. Most insurers have submitted two sets of premium rates, a lower rate to use if the subsidies remained and a higher rate to use if the funding was cut.
Before the administration’s decision to eliminate subsidies, the Congressional Budget Office (CBO) reviewed such a policy and concluded eliminating the subsidies would lead to 4 million fewer people signing up for insurance in 2018 than previously forecast. The CBO still expects 11 million people to sign up for the next year – an increase from this year’s enrollment of 10 million nationwide. This translates into less enrollees signing up Health insurance in Frisco, Texas, a small city in the suburbs of Dallas, Texas.
Some state's insurance regulators will allow insurers to change rates as soon as practical - even the next month - if congress reinstates funding, an approach backed by the National Association of Insurance Commissioners. But that could run up against federal government objections.
The Affordable Care Act does not allow for changes to premium rates after they have been finalized, an official for the U.S. Department of Health and Human Services said. At the same time, the administration is working to approve higher rates in several states that did not take-into-account the administration’s cut in subsidies for 2018.
This confusion will case health insurance agents in Frisco and other small cities to offer alternative plans to Obamacare. These options include indemnity plans with fixed costs that increase in price by 3 to 4 percent annually. “This is a great option for healthy consumers. This issue has created last minute challenges to health insurance agent all over the country”, says John Thornton of Insurance4Dallas.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies
