Typical Colorado residents who qualify for Affordable Care Act premium subsidies may pay an average of 11 percent less for exchange plan coverage in 2017 than they are paying this year.
Agree Bly, an actuary at Tampa, Florida-based Wakely Consulting Group, made that prediction in a report included in a recent Connect for Health Colorado board meeting packet.
Connect for Health Colorado is Colorado’s state-based ACA exchange.
That exchange, like other ACA exchanges, is set to start the open enrollment period for individual coverage Nov. 1.
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Some carriers have pulled out of the Colorado exchange, and the remaining carriers are increasing their premiums, according to Bly’s analysis.
The full cost of Colorado exchange plan coverage is on track to rise an average of about 24 percent in 2017, and the average number of plans available to any given exchange user will fall to 48, from 77 this year, Bly predicts.
“For any given county, the number of plan offerings is decreasing by between 15 and 38 plans,” according to the analysis. “No platinum plans are offered by any carrier on the exchange.