Whether you support ObamaCare or you don’t it’s hard to dispute the fact that thousands of Indiana residents that were once unable to obtain individual health insurance due to pre-existing conditions, can now obtain the coverage that they need. Regardless of health conditions, insureds are now charged the same premiums across the board based on insurance company, age, smoker status, and the county they reside in. In other words, a non-smoking male aged 45 living in Johnson county, Indiana purchasing an Ambetter Bronze HSA will be charged the same premium (minus subsidies) as another 45 year-old non-smoker a few streets over from his house. Of course, the actual premium paid may be different due to financial subsidies that are awarded based on income. In light of the push for more healthcare reform under the new presidential administration, I thought I’d share some statistics on the Hoosier states use of the ACA (aka Obamacare).
Roughly 550,000 Indiana Residents are Receiving Financial Aid for Health Insurance
One of the biggest changes that the ACA brought to Indiana was the expansion of Medicaid. Now, individuals and family’s living below 138% of the federal poverty line (http://www.in.gov/fssa/hip/2460.htm) qualify for a Medicaid program known as the Healthy Indiana Plan, or HIP. Most of Indiana’s ACA enrollments are in the HIP plan. In January 2017, Indiana reported that 403,142 people had enrolled in Medicaid benefits. 174,611 enrolled in Marketplace plans on the Indiana ACA exchange. Of those 174,611, approximately 83 percent are receiving financial subsidies, or 144,927 people. That would put the total people receiving some kind of financial assistance at roughly 550,000.
Some More Statistics:
-At the start of the 2018 open enrollment, there were 4 counties where no ACA coverage was going to be offered. After negotiations with the state, CareSource and Ambetter stepped in at the last minute to cover the 4 counties.
-Anthem and MdWise both left the Indiana exchange at the end of 2017.
-Anthem kept one catastrophic non-exchange plan in a few counties. Because the counties are rural and as HealthMarkets points out catastrophic plans are only available to those under 30, the carrier has an expected enrollment total of 15 people statewide. This was to prevent a statewide exit which would have barred the insurer from returning to the Indiana ObamaCare market for 5 years.
-Of the two carriers left in the state, CareSource had an average rate increase of 20%, and Ambetter had an average increase of 35%.
-Ambetter added 11 counties to their service area in 2018.
-CareSource is offering plans in 75 of Indiana’s 92 counties for 2018.
-All Marketplace plans available in Indiana are HMO’s.
Most people who have ACA plans are happy with their coverage. However, with more and more carriers struggling to make a profit on the state exchanges, it’s likely that we will continue to see insurance companies leaving more counties and the state as a whole. Mant individuals that do not have major health issues are finding that purchasing faith or christian health-shares and short term policies are not only more affordable, but also allow for more customization to their particular needs.