A new report indicates that depending on where consumers live in the U.S., they will see vastly different premium prices on their health insurance whenever the Patient Protection and Affordable Care Act goes into motion.
According to the report, "What's the Score? A Health Exchange Report Card," data and analysis firm HealthLeaders-InterStudy notes that the insurance marketplaces that are scheduled to open for enrollment in October will likely have the biggest impact on the healthcare industry, with the effects being felt virtually everywhere.
William Melville, market analyst at HealthLeaders-InterStudy, noted that whether the exchanges are operated at the state level or by federal officials – as 27 states have refused to run them – no two will be alike.
"Each exchange is wedded to its respective state's health insurance market," said Melville. 'It will be critical for companies in the healthcare industry to understand how exchanges stack up to identify the wildly different opportunities from state to state."
Though the government maintains that the ACA will help bring premiums lower, several reports and analyses suggest otherwise. The Associated Press recently reported that insurers have reached out to business owners who make employee benefits available, advising them that their premiums could rise by as much as 20 percent in 2015, the new start time for the employer mandate.
Earlier this year, the Society of Actuaries released a report on how the ACA could affect states with regards to premium costs. In 43 of the 50 states, the study found that premiums could increase by double-digits, with some of the highest prices found in Ohio, Wisconsin, Indiana, Maryland and Ohio.
Kristi Bohn, consulting health staff fellow for SOA, said at the time that "we can expect mixed results on the reform bill's goals of expanding coverage and reducing costs" by 2017.
