2021 health insurance premiums: What to expect
Rate changes in 2021 are likely to be driven by a number of factors, including shifts in insurance enrollment.
The pandemic-induced economic downturn may also mean small employers—especially those with healthy workers—are less likely to offer coverage.(Photo: Shutterstock)
When it comes to premium rate setting, it’s a brave new (pandemic) world.
Each year, the American Academy of Actuaries Individual and Small Group Markets Committee
puts out a brief outlining the major factors driving premium changes for the next plan year.
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Although deductibles have increased for private insurance plans, deductibles for ACA coverage have been decreasing year-to-year.
In 2020, health insurance premiums and deductibles ate up 11.6% of Americans' incomes.
Employers are still in the middle of a changing benefits landscape, with more uncertainty to come.
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