Affordable Care Act Individual health insurance rates to drop 19 percent

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Thanks to a federal waiver and a reinsurance program, rates under the Affordable Care Act will drop by 19 percent next year. The rate cut was announced by Delaware Health and Social Services.

The state gained the federal waver after enabling state legislation was signed into law in June by Gov. John Carney.

The lower rate had been forecast in August, after the state received the waiver from the U.S. Department of Health and Social Services.

Delaware has only one ACA insurer, Highmark Delaware. The lack of competition has been cited as a factor in Delaware’s high insurance rates.

ACA insurance (Obamacare) covers people who are between jobs or cannot obtain group health coverage. The coverage is often used by the self employed.

It is not to be confused by now legal plans (sometimes known as Trumpcare) that offer low rates and limited coverage.

See earlier story below for further details.

State gets waiver that could lower individual health insurance rates

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