Latest News from Covered California

September 14, 2019 gtutt44 1 comment

Newsletter

Latest News from Covered California

Latest News from Covered California

 

SACRAMENTO, Calif. — Covered California unveiled its preliminary rates for the upcoming 2020 coverage year, revealing how consumers will benefit from new state initiatives, and announced that a major carrier will be expanding into new areas and providing consumers with more choice.

 

Quick Information on the 2020 Preliminary Rates

  • On Tuesday, July 9 Covered California announced that the average rate change for the 2020 individual market will be 0.8 percent. This is dramatically lower than actual average increase over the past five years, 7.9 percent, and the lowest rate change since Covered California first began offering coverage in 2014.
  • The rate change was driven lower due to two new state initiatives designed to improve affordability and encourage enrollment.
  • An estimated 922,000 consumers will be eligible to receive financial help from the state which will lower the cost of their coverage. This includes, for the first time, many middle-income Californians who were previously ineligible for assistance because they exceeded federal income requirements as well as low-income Californians will also get additional help on top of the federal tax credits that they already receive.
  • Covered California projects that an estimated 229,000 consumers will become newly insured, thanks to the increased financial help, and the restoration of the state individual mandate penalty.
    • Restoring the individual mandate was a key factor in driving premiums lower by between 2 and 5 percent per carrier with an average of 3.2 percent.  Takes EFFECT 1/1/2020--If you have questions CALL 909-656-4885
  • The individual mandate will be administered by the California Franchise Tax Board and consumers who choose to go without coverage they can afford in 2020 will be subject to paying the penalty as part of their annual state tax filing. Consumers whose health insurance costs do not exceed a certain percentage of their income could face a penalty of up to nearly $2,100 per family, which is based on 2.5 percent of your household income or a minimum of $695 per adult, whichever is greater.
  • All 11 of Covered California’s health plans will be returning for 2020, and a major national plan – Anthem Blue Cross – will be re-entering several parts of the state. As a result, 87 percent of Californians will be able to choose from three carriers or more and 99.6 percent of consumers will have two or more choices.
  • Anthem is returning to the Central Coast, parts of the Central Valley, Los Angeles County and the Inland Empire and will be available to about 59 percent of Californians.
  • While the average rate increase announced today reflects the statewide average, the circumstances for individual consumers will vary in 2020 given their own individual circumstances and regional rate variations.
  • Beginning in October, Covered California consumers will be able to visit the  website and enter their personal information to learn about their gross premium, federal and state subsidies and estimated price for 2020. Until that time, the rate information announced today only reflects the statewide average.  FOR MORE CALL 909-656-4885  OPEN ENROLLMENT STARTS OCT 15/2019 ENDS 1/15/2020--COVEREDCA. ALSO CARRIES DENTAL AND VISION.

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