You would be smart to apply the same shopping methods you employ for the holidays to buying health plans. A recently revealed study conducted by the Kaiser Family Foundation determined that the millions of American men and women will experience a price increase if they continue on their current health plan for 2016.
Specifically, the Kaiser Family Foundation study determined that in more than twenty-five of the thirty-six states served by healthcare.gov, the least costly silver plan will not remain so come next year. By switching to a new plan for 2016, citizens could save a significant sum on premiums.
The study also determined that if people opt to remain on the same plan, they should expect an increase of fifteen percent or more. Please not that this fifteen percent is prior to tax credit being included, which more than four-fifths of consumers on healthcare.gov receive.
The vast majority of people on healthcare.gov will automatically renew a very similar, if not the same, plan if they do not actively shop by December 15, 2015. Open enrollment commenced at the beginning of November and will continue up until the end of January 2016.
The cheapest silver plan is the most popular choice amongst consumers shopping on healthcare.gov.
The study also found that a forty-year old who opts to change to the lowest cost silver plan for next year will end up saving a sum of more than $300, on average. This number increases to $500 for the year in an eight of the participating counties.
According to the data, a little more than half of all people who opted to re enroll in a healthcare.gov plan did shop around last year. Around half of these people ended changing plans to save just under $400 on average for the year of 2015.