There is a lot of confusion in regards to the Executive Orders from yesterday in regards to health insurance. We wanted to help alleviate some of the confusion on what these actually mean for you and your family.
Terminating Cost Sharing Subsidies
Not everyone on Covered California (or Federal Obamacare plans for that matter) will be impacted. This only impacts those on the enhanced silver level plans. The government came to find these extra payments illegal, so they will be terminating these extra payments. For those on these Enhanced Silver Plans (Silver 94, Silver 87, and Silver 73), you will not see a huge difference in premiums. For some of you, the Gold plans (one level up), will actually be more cost effective for you though which is a change. For the rest of you on Covered California Bronze, Gold, and Platinum plans or regular Silver 70 Covered California plans, this change does not impact you other than the regular 2018 price increase you will incur (which is hefty in some instances but unrelated to what happened yesterday).
Availability of slimmer health insurance plans, short term health plans, and Association health plans across state lines
Even though this was signed yesterday, we most likely not going to see a change in additional lower cost health options until 2019. The insurance companies have to come up with new plans, and this will take months to do.
As of now – it is business as usual -
We hope this helps alleviate some of the confusion out there. If you have more questions, feel free to reach out to us.