And while Florida insurance regulators said this week that the Affordable Care Act will cause the price of individual health plans sold in 2014 to rise 30 to 40 percent higher than similar plans sold today, and small group plan premiums could rise by 5 to 20 percent, they also conceded that those projections were based on a “hypothetical” health plan that does not exist anywhere in the state.
What’s more, the price projections released by the state do not factor in substantial government subsidies that will be available to many consumers based on household income, which will offset their actual out-of-pocket expenses.
But federal officials balked at Florida’s projections late Wednesday, and said that the state’s experience should reflect what has occurred in other states.
Citing an HHS study of 11 states where insurance plans have won federal approval for sale on the government exchanges, an Obama administration official said premiums were on average almost 20 percent lower in those states than what the Congressional Budget Office had projected.
From the 20,000 foot view, we are only 60 days away from implementation.