Changes Coming To Health Premiums As New Provider Comes To Oklahoma For Affordable Care Act Open Enrollment

Big changes are coming for Oklahomans who get their health insurance through the Affordable Care Act. Experts also say if you don't pay close attention, it could end up costing you a lot of money. 

Open enrollment starts Friday, November 1. This year, there is a new provider in the metro and that will likely impact rates.

“This year by far, hands down, is the most turbulent year in the Oklahoma City-Metro,” said insurance agent Brett Casey, who has been helping clients sort through the Affordable Care Act Exchange since the beginning of Obamacare.

According to Casey, Bright Health has now entered the Oklahoma marketplace with lower rates in the metro. That will impact subsidies, the amount the federal government chips in every month for your premiums. The amount of government subsidies someone gets depends on income level and household size.

“The rates haven’t gone up, the subsidies have gone down is what’s happening, because there’s a lower cost plan,” explained Casey.

For example, a family of four making $60,000 a year on the most popular silver plan pays nothing this year. But next year, would have to pay $393 dollars a month.

“So, you’re talking nearly a $4,800 increase for the same plan for people that were making the same income for the same family,” said Casey.

But Casey said there are likely other options that will fit your needs and your budget. But he warns families to do their research.

“You don’t just want to go find a zero-dollar plan and say I want that one, because that may not even cover a doctor that you’ve seen in the last 10 years,” said Casey.

Casey said it’s important to check provider networks, as well as deductibles and out of pocket expenses. 

Casey and other agents like him will help you sort through your options for free.

Enrollment lasts through December 15, 2019.