Open enrollment for the Healthcare Marketplace begins this Wednesday November 1st.
Health insurance prices in Indiana have risen by an average 20 percent, as weakened protections for the Affordable Care Act Marketplaces have allowed insurance providers to opt out of the public exchanges.
The Indiana Department of Insurance’s website posted approved health insurance rates for the exchange in September. The deadline to apply for health insurance from the Marketplace is December 15th, with insurance policies beginning on January 1st.
The Department of Insurance listed prices just under $500 a month for Indiana’s only two insurance providers left on the healthcare Marketplace.
Reports have shown that more older people—who, on average, have more expensive healthcare needs—have signed up for the healthcare exchange, than younger people.
According to insurance watchdogs, that has caused more providers to rapidly increase their monthly premiums or leave the healthcare exchange.
Two major Indiana health care providers in Indiana, Anthem Inc. and MDwise Marketplace, stated they would leave the exchanges next year, increasing concern over the uncertain future of Obamacare.
Physicians Health Plan of Northern Indiana and IU Health plans were also going to participate in the Obamacare coverage this year but dropped out.
Currently, CareSource Indiana and Celtic Insurance are the sole providers of health insurance through Indiana’s Healthcare Marketplace.