Affordable Care Act premiums will go up this year - MSNewsNow.com - Jackson, MS

Affordable Care Act premiums will go up this year

Source: WLBT Source: WLBT
Source: WLBT Source: WLBT
JACKSON, MS (Mississippi News Now) -

Insurance premiums for the Affordable Care Act are going up by double digits nationally.

Open enrollment starts next Tuesday and runs until December 15.

"You're going to be paying more," noted Mississippi Insurance Commissioner Mike Chaney. "But the good news for Mississippi is that you spend less than other states."

The insurance commissioner's office announced the increase details this summer.

"Mississippi will come out pretty good even though we approved rate increases at 43% for Humana and 25% for Ambetter," said Chaney.

Those increases are just averages. The lower level plans won't impacted as much.

"Mississippi's rates for the second lowest tier, silver, is $282," described Chaney. "That's the lowest rate in the United States at the present time. The next lowest state is Arkansas with a little over $300. So we still have good rates in Mississippi."

Humana will be offered in 32 counties. Ambetter from Magnolia Health will be available in all 82 counties.

The Mississippi Health Advocacy Program noted most Mississippians are eligible for tax credits, but a Kaiser Foundation Report indicates they aren't all being used.

"This is huge," explained MHAP Director Roy Mitchell. "There's literally money on the table for health insurance for Mississippi families to the tune of $80,000 Mississippians and they're not taking advantage of the tax credits that are available to them."

"What you need to remember is that those tax credits are paid for by tax payers like you and I pay taxes," added Chaney. "So, a lot of that money I paid to the federal government as income tax that will go for tax credits for somebody."

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