Podcast Center
Video Center
Webcasts
Resource Center
Events
August 01, 2013 at 01:30 PM
Regulators in Georgia and Indiana say the Patient Protection and Affordable Care Act will lead to big increases in individual health insurance rates in their markets.
The U.S. Department of Health and Human Services will be running “federally facilitated exchanges” in both states, in both the individual and Small Business Health Options Program markets.
Ralph Hudgens, the Georgia commissioner, said filings show that only five carriers will be selling coverage through the Georgia exchange.
Aetna Inc. and a newly acquired Aetna unit, Coventry, are two of the companies that have decided not to participate, Hudgens said.
The Georgia department has not released detailed rates for the state’s exchange plans, but he said rates for some consumers could double or triple.
Today, carriers in Georgia can refuse to sell coverage to adults with health problems, and they can charge much higher prices for sick or older enrollees.
Because of the PPACA changes, rates for some 25-year-olds could rise as much as 198 percent, and rates could rise 40 percent to 100 percent even for insureds ages 45 to 60, department officials said.
