Open enrollment, premium increases, and a public hearing

Open enrollment begins November 1 for anyone buying insurance through the federal health insurance exchange established by the Affordable Care Act (ACA). 

On November 4 the state Insurance Department will hold a public hearing on health insurance premiums. 

New Hampshire residents purchasing health insurance through the exchange will see an average premium increase of 11%. 

For many, 11% is unacceptably high for an annual premium increase. 

The large premium increases are due to relatively unhealthy people purchasing insurance for the first time.  The state Insurance Department also says that prescription drug prices are spiking. 

However, federal calculations show that the premium increases in New Hampshire are some of the lowest in the nation. 

Premium increases are smaller in New Hampshire in part because the state’s unique Medicaid expansion program reimburses eligible individuals for insurance purchased through the exchange.  This gives insurance companies a larger pool of patients contributing to premiums.

New Hampshire also has four insurers on the exchange, which may increase competition to keep premiums low.

Do you have an opinion on health insurance premiums and the Affordable Care Act?  Let us know in the comments.