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Affordable Care Act Updates: Obamacare 2018 Plans

Obamacare 2018 Plans.

Obamacare, called the Affordable Care Act, is still the law of the land. Congress has not been able to repeal it, replace it, rename it or whatever they tried to do before their August recess. The Health Insurance Exchanges, where you buy individual health insurance, are still functioning.They do show signs of strain due to the uncertainty surrounding the repeal efforts.

Obamacare 2018 Enrollment.

The time you have to enroll in a new health insurance plan on your state exchange is different than last year. It is one month and two weeks shorter this year:

NOVEMBER 1 THROUGH DECEMBER 15

Unless you live in California, Colorado, Massachusetts, Minnesota, Washington, or Washington D.C. If you do, then you will still have two to three months to sign up into January of 2018.

Knowing When to Apply.  

There will not be as many reminder notices as last year. The Trump administration has cut millions from the marketing budget to promote participation in the Exchanges. Mark your own calendar as a reminder.

Obamacare Repeal 2018.

While anything is possible, the Senate has until September 30 to vote on a bill that could pass with 50 votes. There are discussions underway about passing laws to stabilize the insurance markets as well as still trying to forge a last ditch effort to repeal Obamacare.

Obamacare 2018 Premiums.

Are your monthly payments for health insurance going to be higher next year? For the most part, the answer is YES. Insurance companies participating in the federal Exchanges have until September 27, 2017 to sign a contract which locks in the premiums. You can find out what your premiums will likely be in your location in this attached table.The highest premium increase is in Wilmington Delaware (+49%) and the lowest is in Providence, Rhode Island (-5%). If you receive a tax credit to help pay for your premium, though, you will likely be paying less (-3%) than you did last year.

Insurance Companies Offering Plans in 2018 Exchanges.

There has been a lot of news about health insurance companies dropping out of Exchanges. It is true that the participating insurance companies are decreasing.  

Year % Health Insurance Companies in Exchange
2018 4.6%
2017 5.1%
2016 6.2%
2015 6.7%
2014 5.7%

Cost of Missouri or Illinois Premiums 2018.

Overall the cost of health insurance is increasing for both Missouri and Illinois. Again, if you receive a tax credit, you may not see a hike in the monthly price of your health insurance.

Missouri

Insurance Company Cost of Premiums
Cigna +42%
Anthem +36%
Centene New to the Exchange

Illinois

Insurance Company Cost of Premiums
Blue Cross Blue Shield (of Illinois) +5.4% to +38.2%
Cigna +37.7%
Celtic +15%
Health Alliance +43.1%
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