Insurance Exchanges – Page 2 – The Moral Healthcare Blog

Just how much premiums will change depends on the state you live in, Kingsdale said.
Individual premiums decreased when Massachusetts’ health care took effect, he said, because the state already had high-priced and insurers were not allowed to turn away the sick and could not charge large premium differences based on age, gender and health.
“Other states will see exactly the opposite happen,” he said. “Their premiums tend to be quite low, but they’re getting skimpy insurance.”
In Oregon, Ario said, large differences in premium prices have already appeared.
In one case, a 40-year-old non-smoker in Oregon could buy a low-cost or bronze-level plan for $162 a month from one company or the same plan from another for $400 a month, Ario said. Anti-trust laws prevented the insurers from comparing pricing before developing their premiums.
When the companies with the higher rates saw their competitors’ lower premiums, he said, they asked the state to allow them to file for reduced premiums.
“The good news is that in most marketplaces, there will be some carriers that will be bold and price competitively to get more market share,” Ario said.

Market, insurers will keep premiums low, analysts say

For a quick rundown on what the “gold, silver, and bronze” plans will cover, go here.

NJ Spotlight | Filling in the Details of NJ’s Health Insurance Exchange:

“In Massachusetts, officials have tailored the requirements for participating insurance companies to ensure a certain high level of benefits; in Utah, the exchange is open to most of the companies that wish to do business in the state. The website for the Massachusetts exchange includes tools to help consumers select the best product, and the signup process takes less than ten minutes, researchers found. Utah’s exchange is more of an online portal, linking customers to existing insurance products, and the state has received a number of complaints about the complexity of the enrollment process.

“According to the Georgetown report, ‘you get what you pay for.’ Massachusetts’ exchange has a $30 million annual budget and 46 full-time workers, whereas Utah spends $600,000 and employs two staff members. With greater resources and outreach, Massachusetts has reached some 220,000 people, compared with 2,200 now in Utah’s program. According to 2009 data, after a few years with the exchanges in operation, Massachusetts had insured more than 95 percent of its residents and Utah had about 85 percent covered, when including those who obtain insurance through their jobs or the private market.

“The healthcare coalition in New Jersey did not focus on any single state in developing its list of principles, Snedden said, but worked with members to determine what was most critical here. The group also plans to launch a public campaign this summer to help individuals and business owners become more familiar with the concept of the exchange.

“‘What we’re doing is getting the conversation started,’ Snedden said. ‘We want to make ‘exchanges’ a word that actually rings a bell.'”

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