More insurers plan to join Obamacare exchanges in 2015, which may lower premiums.
Bloomberg: “new competition should mean lower premiums for consumers, or at least more moderate increases. In Washington state, Molina Healthcare Inc. (MOH), which offered relatively expensive plans this year, has proposed an average 6.8 percent reduction in its 2015 premiums.”
Karen Ignagni, president and chief executive officer of America’s Health Insurance Plans: “Consumers benefit from competition … The most important thing is getting folks on the playing field offering different products to consumers so they can make the decisions that are best for them.”
“Among all the plans selling to individuals in Washington state, the proposed rate increases average about 8.25 percent, said Mike Kreidler, the state’s insurance commissioner. That’s the lowest requested increase in seven years, he said; final rates may be lower.”
But: “There are some states where there’s no competition at all … For those states, it’s really important that we get competitors.”