CHA News Article

Covered California Announces 2015 Health Plans, Products and Rates
Reasonableness rate review to occur next; rates scheduled to be finalized by Oct. 1

Covered California announced today that it has selected 10 health insurance companies to be in the 2015 state health exchange. All 10 companies were in the 2014 exchange and submitted bids to return to the exchange for 2015 coverage. The portfolio reflects a wide mix of large nonprofit and commercial leaders in the individual health insurance market, along with Medi-Cal and regional plans.

Covered California selected the following health insurance companies for the 2015 exchange:

  • Anthem Blue Cross of California
  • Blue Shield of California
  • Chinese Community Health Plan
  • Health Net
  • Kaiser Permanente
  • L.A. Care Health Plan
  • Molina Healthcare
  • Sharp Health Plan
  • Valley Health Plan
  • Western Health Advantage

The current list of insurers is for comprehensive individual health policies only. Covered California will later announce adult and family dental options, along with health insurance options for small businesses.

The vast majority of Covered California consumers will see low increases in their health insurance premiums for 2015, and many consumers will see no increase or even a decrease. The statewide weighted average rate increase came in at 4.2 percent, with some plans offering weighted average rates that are 8.5 percent lower than current pricing.

The rates submitted by the selected companies are tentative and subject to an independent reasonability review by the state’s regulators, with the California Department of Managed Health Care reviewing the rates of nine carriers and the California Department of Insurance reviewing the rates of one.

Additionally, 90 percent of consumers currently enrolled in health insurance plans through Covered California are receiving federal subsidies to help reduce their overall costs. In most areas of the state, the amount of subsidy that individuals receive will either increase or remain very close to 2014 subsidy amounts. This means that for many consumers, any increase in premium will be offset by an increase in subsidy. All insurers submitted bids for products that include children’s dental plans. In response to customer feedback, some health insurance plans will offer expanded provider networks so that Californians can choose from a wider selection of doctors.

Covered California has also released its Health Plans Booklet for 2015. The booklet, attached, includes the following information for each of the 19 Covered California rating regions:

  • 2014 regional enrollment, including enrollment by carrier and by metal tier
  • 2015 rate change summary
  • 2015 average consumer monthly premium after subsidy
  • 2015 rate change for consumers who stay with their current plan
  • 2015 sample rates and premium assistance for a 40-year old individual with a silver plan
  • 2015 tentative rates without subsidies for a 25-year-old, 40-year-old, and 60-year-old

Consumers can now use the 2015 Shop and Compare Tool on the Covered California website, at www.CoveredCA.com/shopandcompare/#calculator, to review health plans and products in their area and to get a preliminary estimate of costs and premium assistance.

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