Harrisburg, PA – The Pennsylvania Department of Insurance has announced 2022 Affordable Care Act for Individuals and Small Groups (ACA) Medicare Rates, which highlights increased market competition for multiple counties and a low, almost flat, statewide average rate change in the individual market, according to a statement from the Insurance Department.
The department said Pennsylvanians can expect more options with greater competition when purchasing health insurance plans for 2022.
Based on the products now approved by the department, all insurers currently offering individual market coverage in all 67 Pa counties will continue to provide plans in 2022 with an average increase of 0.2% across the country. the state.
The Commonwealth will see an average increase of 4.5% in the small group market. The Insurance Department said the tariffs provide more options for consumers looking for comprehensive health insurance plans with solid benefits.
“The Pennsylvania Reinsurance Program, which was created under Federal Section 1332 on State Aid and Clearance Exemption and enabled by Law 42 of 2019, continues to generate measurable savings.” , said the insurance department. This year, the program translates into 2022 individual market premiums 5.5% lower than they would be without the program.
A ministry statement says the American Rescue Plan (ARP) has reduced, and in some cases eliminated, health insurance premiums for thousands of low- and middle-income families enrolled for health coverage through Pennie ™, the marketplace. Pennsylvania health insurance.
The state said these enhanced savings will continue to be available in 2022 and may be available beyond 2022 depending on congressional action, a step strongly supported by the Wolf administration.
“Pennsylvania continues to have a strong and competitive health insurance market despite the continued presence of COVID-19,” said State Insurance Commissioner Jessica Altman.
“The landmark bipartisan law, Bill 42 of 2019, delivers on its promise of a more affordable, stable and accessible health insurance market for Pennsylvania. With increased options for many counties and stable premiums, there are now more ways to ensure everyone has the opportunity to be covered, ”said Altman.
In the 67 counties, no county will lose an insurer on the stock market, and 25 counties will gain a new insurer offering coverage through Pennie. Specifically, 22 counties will gain one insurer and three counties will gain two insurers.
Pennsylvania will no longer have counties with a single insurer offering coverage in 2022. Each county in Pennsylvania will have at least two insurers offering coverage and for the first time, some counties will have six insurers offering coverage.
With the addition of Cigna Health and Life Insurance Company, Pennsylvania now has eight insurers offering health coverage plans, the most since the adoption of ACA.
“The Wolf administration has remained dedicated to the health, well-being and financial security of all Pennsylvanians during the COVID-19 pandemic and has taken various avenues to educate consumers about the importance of health insurance during COVID-19 and beyond, ”Altman said. .
“With over 330,000 Pennsylvanians enrolled through Pennie and 90 percent of those consumers receiving financial assistance, it is of the utmost importance that we continue to educate individuals on how to protect themselves and their families.”
The ministry said that last year Pa. Presented Penny ™ and it remains available to all Pennsylvanians. Pennie strives to improve the accessibility and affordability of individual health coverage in the market.
It is also the only program that connects Pennsylvanians with financial aid to reduce the cost of coverage and care, previously available at Healthcare.gov. Pennie’s goal is to make it easier for Pennsylvanians to access coverage through education, support, and improved customer service.
The Insurance Department said it strongly recommends residents of the state research the best plan to meet their individual, family and financial needs, even if they are currently enrolled in a health insurance plan through Pennie. A change in tariffs can potentially result in lower subsidies, so consumers are encouraged to shop around and compare plans, the state said.
Pennsylvania residents can start shopping for medical and dental coverage during Pennie’s open enrollment period, November 1, 2021 through January 15, 2022.
Pennsylvanians with questions about insurance can contact the Insurance Department’s Consumer Services Office in line or 1-877-881-6388.