Health-care rates could soar

Florida consumers without subsidies might see 45% increase

On the same day Republicans gave up on their latest attempt to repeal Obamacare, Florida insurance regulators projected that premiums for those on the plan could go up by nearly 45 percent next year.

But consumers who receive subsidies will be mostly shielded from the rate hikes.

“In fact … a family of four earning $53,000, as well as an individual earning $27,000, may see a slight decrease in their out-ofpocket health-insurance premium in 2018,” said the Florida Office of Insurance Regulation in a news release.

But others will see an increase, depending on their carrier and the category — bronze, silver, gold, platinum — for their plan.

Overall, consumers enrolled in bronze, gold and platinum plans across Florida will have an average increase of 18 percent. Consumers who are enrolled in a silver plan but don’t qualify for assistance because of higher income will be hit hardest.

For Florida Blue, that’s about 66,000 of its 1 million members.

The insurance company has created about a dozen off-marketplace plans to provide an alternative for those consumers, company officials said.

State regulators also suggested that those consumers check insurers to see if they can get a more affordable plan not tied to Obamacare.

Six insurance companies are offering Obamacare plans in 2018. Florida Health Care Plan Inc., owned by Florida Blue, has the lowest rate increase of 26.5 percent and Molina Healthcare of Florida has the highest at 71 percent.

Florida Blue, which will once again offer marketplace plans in all Florida counties next year, is increasing its rates by an average of 38 percent for its Florida Blue plans and by 35 percent for Health Options, which is one of its products.

Consumers in 42 counties will have access to only one carrier, according to the Florida Office of Insurance Regulation, which releases its projections each year.

The rate hikes are due in part to the uncertain future of the health law and federal reimbursements that help insurance companies compensate for discounts they give to low-income consumers.

Under Obamacare, insurance companies are required to offer discounts to consumers whose income is between 100 percent and 250 percent of the federal poverty level. Government subsidies, amounting to about $7 billion last year — $1.5 billion of which went to Florida — have been funding those discounts.

President Trump has been threatening to eliminate those reimbursements. To make up for the potential loss, insurance companies are increasing their rates.

“It’s still a very uncertain market,” said Tony Jenkins of Florida Blue. “We still don’t know where things will end. We’ve got close to 1 million individual members in the state, and we have to preserve the affordability.”

The increase is much higher than the state’s preliminary estimate in June, which showed an 18 percent increase in premium rates, similar to the change last year.

The rate filings still have to be finalized by the Department of Health & Human Services in the coming weeks.

The Trump administration has shortened the Obamacare open enrollment period this year by six weeks. Consumers can sign up for a plan between Nov. 1 and Dec. 15.