If you like your health insurance plan, you would probably be upset to learn that your provider would no longer offer health insurance coverage in your area. Unfortunately, that is exactly what is happening to a number of Anthem Blue Cross customers for the 2018 coverage year.
While President Trump and Congress continue to debate various replacement plans for the Affordable Care Act, health insurance companies are getting nervous. Some experts have cast doubt on whether the federal government will continue to fund subsidies to help with the cost of health insurance (for those who purchase from the marketplaces established by the ACA).
As California lawmakers await news from Washington, DC, they have formulated their own plan to deal with the cost disparity. If the federal government decides not to fund subsidies next year, a surcharge of about 12.4 percent will be added to silver-level health insurance plans offered through Covered California.
Meanwhile, the cost of health insurance premiums is already set to rise at about 12.5 percent next year. Added together, these potential price hikes are a concern for consumers.
Due to all of these concerns, Anthem Blue Cross has announced that they will be pulling out of the marketplace in many California counties. Only those in Santa Clara County, the Central Valley area, and a few counties in Northern California will retain their Anthem coverage. About 153,000 people will have to select a new health insurance provider. Luckily, in most areas, at least three providers plan on remaining in the marketplace.
If you’re an Anthem customer who will be affected by this change, or if you’re concerned about the rising cost of health insurance in general, give us a call. We can help you decide upon the best course of action.