ITUP Analysis: Covered CA 2020 Rates
On July 16, 2019, Covered California, California’s Affordable Care Act (ACA) marketplace, released preliminary health plan premiums for individual coverage starting January 2020.
This new issue of ITUP Tracking reviews the rate changes and health plan choices available to consumers for 2020.
Covered California announced that 2020 premiums will increase at the lowest annual rate since implementation of the ACA in 2014, a statewide weighted average increase of less than 1 percent.
In 2020, California will implement new state policies, including a state penalty for not maintaining health coverage and new state financial assistance that builds on federal premium tax credits.
State subsidies will supplement existing federal subsidies for some currently enrolled low-income individuals and provide first time assistance to eligible Californians with moderate incomes.
Covered California estimates that the state actions are expected to bring an estimated 200,000 additional people into Covered California in 2020, including approximately 88,000 currently uninsured individuals who will receive financial assistance to purchase coverage for the first time.