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Small Business Employee Benefits and HR Blog

California Health Insurance Exchange - Individual Plan Rates

Yesterday, the California Health Insurance Exchange announced which carriers intend to offer individual plans through Covered California, California's Exchange. The California Health Insurance Exchange will be an online portal where where California individuals, families, and small businesses can shop for health insurance plans and receive access to federal tax credits. Covered California will open for enrollment October 1, 2013 with coverage beginning January 1, 2014. California Health Insurance Exchange

California Health Insurance Exchange - Carriers for Individual Plans

Covered California announced that the following carriers will offer individual plans through the Exchange:

  • Alameda Alliance for Health 
  • Anthem Blue Cross of California 
  • Blue Shield of California 
  • Chinese Community Health Plan
  • Contra Costa Health Plan
  • Health Net 
  • Kaiser Permanente
  • L.A. Care Health Plan
  • Molina Healthcare
  • Sharp Health Plan
  • Valley Health Plan
  • Ventura County Health Care Plan 
  • Western Health Advantage

Carriers and plans will be finalized prior to the opening of the Exchange in October 2013. These carriers have filed intent to offer individual health plans. Carriers and group plans for the small business SHOP exchange will be announced in June.

According to Covered California, California residents will have access to more than 80% of practicing physicians and 80% of acute care hospitals through these 13 health plans. It's estimated that 5.3 million Californians will qualify to buy coverage through the California Health Insurance Exchange.

Click here to read Covered California's May 23, 2013 news release.

California Health Insurance Exchange - Individual Plan Rates

According to Covered California, the statewide average for a Silver-rated plan will be $321 (before applicable federal subsidies). All plans will be offered by levels of coverage: Bronze (plan pays 60%), Silver (plan pays 70%), Gold (plan pays 80%) and Platinum (play pays 90%).

California Rates

Additionally, eligible individuals purchasing plans through the California Health Insurance Exchange will be able to apply federal tax credits. The tax credits will lower the cost of the premium and will be applied at the time of purchase. The tax credits are based on income and family composition.

Covered California provides detailed rate breakdowns by age and region. Statewide averages, including the federal subsidies, are:

  • For a single 21-year old making $34,470/year (300% FPL): The most affordable Catastrophic plan will cost $136/month. The most affordable Silver plan will cost $216/month. 

  • For a single 40-year old making $34,470/year (300% FPL): The most affordable Bronze plan will cost $185/month. The most affordable Silver plan will cost $242.

The health plans are subject to a rate review and rates will be finalized before the Exchange opens on October 1, 2013.

Click here to view source and all plans/rates.

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