SUCCESS IN NJ PUSHBACK ON EFFORTS TO DESTROY ACA

Here is a bit of great news I am happy to share.

New Jersey, whose individual health insurance market was one of the nation’s most expensive a few years ago will be one of the cheapest in 2019, according to a recent report from New Jersey Policy Perspective.  We have fallen from paying the ninth highest premiums in 2014 to 47th highest in 2019.  Indiana ($339), Massachusetts ($332) and Minnesota ($326) will be the only states paying less than New Jersey’s $352 per month.

That compares with a national average of $477 and neighboring state averages of  $684, $569, and $484, in Delaware, New York and Pennsylvania, respectively.

The numbers are from Kaiser Family Foundation data tracking premium costs in every state from 2014 to 2019. During that period, New Jersey premiums rose from $323 in 2014 to a high of $413 last year.

For a family of four opting for the least costly silver plan, that translates to an annual savings of $3,264 (from $15,132 down to $11,868). Comparable figures for a 60 year old are a $1,944 drop (from $10,152 to $8,208) and for a 27 year old, a $792 decrease (from  $3,912 to $3,120).

The price drop is all the more surprising and welcome in the face of ongoing efforts by the Trump Administration and the GOP-led Congress to dismantle and undermine the Affordable Care Act. Their efforts have included repeal of the individual mandate, discontinuation of certain subsidies, shortened enrollment periods, and other actions that have created uncertainty in the market that has itself driven up the cost of policies.

New Jersey has pushed back in various ways, including enacting laws that created a state mandate and established a reinsurance program and the launch of a Get Covered campaign. It is working!

We are now more than halfway through the sign-up period which began on November 1 and ends December 15. If you obtain your healthcare through the individual market, DO NOT DELAY. And make sure others do not either, by spreading the word.

Read the New Jersey Policy Perspective article on the falling premiums here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s