As employers and workers await the effects of the Patient Protection and Affordable Care Act, many of them expecting employee benefits costs to rise as a result, those predicted expense hikes haven't materialized thus far.
According to a recent analysis conducted by insurance plan information firm HealthPocket, premiums have largely held steady throughout the first months of 2013. For instance, between February and May, premiums elevated a mere 1.2 percent per plan, which experts describe as stable.
There were some states, however, where premiums swelled more noticeably. In Wyoming, Illinois and Wisconsin, for instance, health costs rose by more than 5 percent in each state. But this rate is considerably less than where it once was, as between 2002 and 2012, premiums jumped 97 percent, on average.
Bruce Telkamp, HealthPocket CEO, noted that this report may contribute to consumers' inquisitiveness with regards to their insurance premiums ahead of the ACA's implementation.
"There is a lot of speculation about what will happen to premiums when the new ACA or Obamacare health plans come out this October," said Telkamp. He added that subsequent reports should provide a clearer picture as to how rates will be affected.
Not only is there some confusion with respect to how the ACA will impact healthcare expenses, but there's a general sense of uncertainty as it pertains to the health insurance marketplaces that will be established. Timothy Jost, an insurance expert for the industry magazine HealthAffairs, goes into considerable detail about some of the rules that will come online in 2014, many of which were released by the Department of Health and Human Services in mid May. The rules concern section 1311 of the ACA bill, regarding state partnership marketplaces and federally facilitated marketplaces.
