11/01/2019 | Press release | Archived content
SANTA CLARA, Calif., Nov. 1, 2019 /PRNewswire/ -- With open enrollment for 2020 health plans under the Affordable Care Act (ACA) beginning today, eHealth, Inc. (NASDAQ: EHTH) (eHealth.com) has released an analysis of federal marketplace plan data showing that lower 2020 premiums may be canceled out by higher out-of-pocket costs for many consumers.
"It's great news for consumers that premiums have stabilized and many people will see their monthly costs drop. But if you dig a little deeper into the 2020 plan data, you see that while average premiums are declining, out-of-pocket costs are increasing commensurately," said eHealth CEO Scott Flanders.
A recent eHealth survey showed that the number one thing people worry about when they need medical care is their out-of-pocket costs. However, 54% say that premium costs are their top consideration when shopping. Despite lower premiums, it is still important for people to review their coverage options for next year.
"Even if you received a notice from your insurer saying that your premium is going down, you need to compare options and make sure you have the protection from out-of-pocket costs you need should you or a family member fall ill," Mr. Flanders said.
Four Important Considerations Consumers Should Be Aware Of:
Premiums Are Declining
eHealth's analysis shows that 2020 premiums are decreasing for individuals and families compared to 2019:
Out-of-Pocket Costs Are Going Up
2020 deductibles and maximum out-of-pocket limits are increasing compared to 2019:
Potential Costs for the Unsubsidized Remain High
In states served by the federal marketplace, middle-class individuals who earn more than about $50,000 and families who earn more than about $103,000 will not receive government subsidies. As such:
Unsubsidized Consumers May Find Additional Options Beyond Government Sites
Consumers who do not qualify for ACA subsidies will often find additional ACA plans outside of government-run marketplaces:
Read eHealth's analysis.
About eHealth
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.com, a leading private online health insurance exchange where individuals, families and small businesses can compare health insurance products from brand-name insurers side by side and purchase and enroll in coverage online and over the phone. eHealth offers thousands of individual, family and small business health plans underwritten by many of the nation's leading health insurance companies. eHealth (through its subsidiaries) is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth also offers educational resources, exceptional telephonic support, and powerful online and pharmacy-based tools to help Medicare beneficiaries navigate Medicare health insurance options, choose the right plan and enroll in select plans online or over the phone through Medicare.com (www.Medicare.com), eHealthMedicare.com (www.eHealthMedicare.com), GoMedigap (www.goMedigap.com) and PlanPrescriber.com (www.PlanPrescriber.com).
For media inquiries, please contact:
Sande Drew
DMA Communications for eHealth, Inc.
(916) 207-7674
[email protected]
Lisa Zamosky
Senior Director Communications, eHealth, Inc.
(917) 751-0232
[email protected]
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SOURCE eHealth, Inc.