Harrisburg, PA – Insurance coverage Commissioner Jessica Altman in the present day introduced Pennsylvania’s 2022 Particular person and Small Group Reasonably priced Care Act (ACA) medical insurance charges, highlighting elevated market competitors for a number of counties and a low, practically flat, statewide common fee change within the particular person market. Pennsylvanians can anticipate extra choices and higher competitors whereas purchasing for medical insurance plans for 2022.
Based mostly on the merchandise now accepted by the Division, all insurers presently providing particular person market protection in Pennsylvania’s 67 counties will proceed to supply plans in 2022 with a statewide common enhance of 0.2 %. The commonwealth will see a 4.5 % common enhance within the small group market. The charges current extra choices for customers searching for complete medical insurance plans that present sturdy advantages.
Pennsylvania’s Reinsurance Program created beneath the Federal Part 1332 State Reduction and Empowerment Waiver and enabled by Act 42 of 2019 continues to supply measurable financial savings. This yr this system is leading to 2022 particular person market premiums which are 5.5% decrease than they might be with out this system. Additional, the American Rescue Plan (ARP) lowered, and in some circumstances eradicated, medical insurance premiums for 1000’s of decrease and middle-income households enrolled in well being protection via Pennie™, Pennsylvania’s medical insurance market. These enhanced financial savings will proceed to be accessible in 2022 and could also be accessible past 2022 relying on Congressional motion, a step strongly supported by the Wolf administration.
“Pennsylvania continues to have a strong and aggressive medical insurance market, regardless of the lasting presence of COVID-19,” mentioned Altman. “The bi-partisan, landmark laws, Act 42 of 2019, is delivering on its promise of a extra reasonably priced, steady and accessible medical insurance market for Pennsylvania. With a rise in choices for a lot of counties and steady premiums, there at the moment are extra pathways to making sure everybody has a chance to get coated.”
Inside Pennsylvania’s 67 counties, no county will lose an on-exchange insurer and 25 counties will acquire a brand new insurer providing protection via Pennie. Particularly, 22 counties will acquire one insurer and three counties will acquire two insurers.
Pennsylvania will now not have any counties with just one insurer providing protection in 2022. Each county in Pennsylvania could have at the least two insurers providing protection and for the primary time, some counties could have six insurers providing protection.
With the addition of Cigna Well being and Life Insurance coverage Firm, Pennsylvania will now have eight insurers providing well being protection plans, essentially the most the commonwealth has seen for the reason that passage of the ACA.
“The Wolf administration has remained devoted to the well being, well-being and monetary safety for all Pennsylvanians through the COVID-19 pandemic and has taken varied paths to coach customers in regards to the significance of medical insurance throughout COVID-19 and past,” mentioned Altman. “With greater than 330,000 Pennsylvanians enrolled via Pennie and 90 % of these customers receiving monetary help, it’s of the utmost significance that we proceed to coach people on find out how to defend themselves and their households.”
Final yr, Pennsylvania launched Pennie™ and it stays accessible to all Pennsylvanians. Pennie works tirelessly to enhance the accessibility and affordability of particular person market well being protection. It is usually the one place that connects Pennsylvanians to monetary help to cut back the price of protection and care, beforehand accessible on Healthcare.gov. Pennie’s purpose is to make it simpler for Pennsylvanians to entry protection via training, help, and improved customer support.
The Insurance coverage Division and Pennie strongly advocate Pennsylvanians store round for one of the best plan to suit their particular person, household, and monetary wants, even when they’re presently enrolled in a medical insurance plan via Pennie. A change in charges can probably lead to a lower in subsidies, so customers are inspired to buy round and examine plans. Pennsylvanians can start purchasing for well being and dental protection throughout Pennie’s Open Enrollment Interval, November 1, 2021 via January 15, 2022.
Shoppers trying to study extra about medical insurance ought to go to the division’s devoted Well being Insurance coverage web page. To study extra about Pennie™ go to Pennie 101.
Pennsylvanians with insurance coverage questions can contact the Insurance coverage Division Shopper Companies Bureau on-line or at 1-877-881-6388.