A new report shows Marketplace insurance premiums will increase in 2023, but you should not cancel your coverage. Learn where and how much costs are increasing, and how you can offset it.
www.verywellhealth.com
Recent data released by Value Penguin, a personal finance and research analysis site, shows that health insurance premiums for private plans purchased under the
Healthcare Marketplace, the Affordable Care Act’s official federal health insurance exchange, will increase in 36 states in 2023.1 Premiums are the amount of money you pay for coverage each month.
A survey revealed that almost 40% of the 1,550 respondents said they might even consider going without health insurance if their premiums become too costly.2
Experts warn that forgoing health insurance could lead to tragic health outcomes and greater care costs for all Americans. Here’s where insurance premiums are most likely to increase, and how you can offset costs.
How Much Will Premiums Increase in 2023?
The
Average Cost of Health Insurance (2023) report showed the average healthcare insurance premium for a 40-year-old on a silver plan—the most common tier—purchased through the Marketplace will be $560 per month, a 4% increase over last year.
The five states that will see the steepest increase in average monthly premiums for silver plans in 2023 are:1
- Georgia: $474—a 20.30% increase from $394 in 2022
- Colorado: $489—a 19.56% increase from $409 in 2022
- Wyoming: $882—a 15.45% increase from $764 in 2022
- Alaska: $822—a 14.97% increase from $715 in 2022
- New Mexico: $551—a 14.79% increase from $480 in 2022
Like I said...the people that love the ACA are most likely the same crippled dependent pets that supported this debacle from the get go.