UPDATE: This isn't about me! I am using my situation as a concrete example of how ACA rate news is not necessarily all positive for the people buying the insurance, or for the viability of the law. I know how to use Healthcare.gov to shop, and don't need advice on shopping around, though it does appear that these Alaska rate increases are pretty consistent across the plans. I just happened to be able to share the hard data on my situation, so I did.
For you ACA supporters, and insurance buyers in Alaska, I regret to be the bearer of bad news.
A letter arrived for me today from my insurance company, Premera Blue Cross Blue Shield, one of the two companies offering plans in Alaska. It confirmed my suspicion, after a cursory cruise around Healthcare.gov, that rates in Alaska are increasing dramatically for 2015.
Here is the data on the plan I have until the end of the year, a Silver plan with a $2500 deductible. The unsubsidized rate increases from $474 in 2014 to $651 in 2015, an increase of 37% from the 2014 rate. My partially subsidized premium for 2014 was $311. That would, if I were to keep the plan, increase to $488 for 2015 if I received the same amount of subsidy, an increase of 57% over what I paid in 2014.
For an apparently healthy person who consumes very little healthcare, is unlikely to meet the deductible, and who has received no benefits from the plan so far this year (though I do intend to take advantage of the one preventive visit), choosing to pay the $311 was not easy. That is a significant new cost in my budget. I figured at least there is the annual cap on out of pocket expenses in case something serious happened. But $488 a month for a policy that I likely won't use because I probably won't meet the deductible is a huge cost. I guess I will be in the market for an even higher deductible, catastrophic type plan. Or a tax penalty.
I spoke with someone from Premara on the phone, and asked if there were any changes to the plan. She confirmed that there were no changes, and that the price increases were portrayed correctly in the letter. She said the company underestimated claims for 2014. I suppose there could be some effect of previously uninsured people taking care of preexisting conditions. Whatever the reason, these are huge increases.
I have read many stories about states that are having very modest rate increases, and even some from people who had decreases. This is now verified to be very much not the case in the Great Land. There has even been some gloating about how wingnut predictions of exorbitant increases have been false. In the case of Alaska, we see evidence that the stopped clock is right a couple of times a day.
Again, ACA supporters and insurance buyers in Alaska, I regret to be the bearer of bad news.