ACA Update: Here’s What to Expect For Healthcare in 2019


Are you looking to learn more about changes to the Affordable Care Act (ACA) for 2019?

Since it was signed into law in March 2010 by President Barack Obama, the ACA has been a talking point for employers and employees alike. It has also undergone many changes, making it difficult to fully understand.

But how has it changed and how does it impact your health insurance concerns?

Read on to learn more about the ACA update and its biggest changes in 2019!

Lower Premiums

A premium is the monthly, out-of-pocket cost that a participant pays to remain covered by their insurance plan. In 2019, the average cost of one of the Marketplace plans will drop in price.

The Silver plan, which falls about in the middle in terms of cost, will become less expensive. This marks one of the most noteworthy ACA changes for the new year. The Silver plan allows for already moderate monthly premiums that will now get even better.

For a 27-year-old adult shopping for a Silver plan on the exchange, the average monthly premium is now $405. That’s down $7.00 from the price of the same plan in 2018.

The price of the premium can also go down quite a bit more depending on the state where you need coverage. There are 39 states that offer coverage on the federal exchange. Other states have premium subsidies that offer savings passed along to consumers.

For example, people living in Pennsylvania will see a decrease of 16% when compared to the average price of the silver plan from last year.

More Options

Also new to 2019 is the addition of more insurers and more options on the Marketplace.

In 2019, there will be 155 insurers participating. That’s up from 132 insurers last year, but down from 167 in 2017.

With the uncertainty of Obamacare, many big name insurers were not part of the exchange during the past two years. But in 2019, some of the biggest names in the insurance industry are back. This includes Anthem, the largest for-profit managed company from Blue Cross.

If you are looking for more affordable options, there are several start-up insurance companies that will offer your health insurance too.

These include insurers like Bright Health, which offers individual and family plans, as well as Medicare Advantage.

Wrapping Up: 2019 ACA Update

The ACA can be a challenging act to navigate, but understanding these updates for 2019 can help you along the way.

Looking for assistance in navigating ACA? Are you interested in learning more about medical insurance options for your business?

The Benefits team at GIGA works closely with business owners to implement top-notch employee benefit programs. After a brief information gathering session, they will reach out to a variety of insurance providers for a business, matching them with only the best benefit packages.

The GIGA Benefits team can also identify cost savings and administrative efficiencies in the areas of services around benefit administration, education, implementation, and benefit enrollment.

Contact us today to learn more about us and how we can help you!

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