GAO reports wide variation in individual market premiums

Health insurance premiums for individual market consumers varied considerably within and between states in 2014 and 2015, according to a report released last week by the Government Accountability Office. For example, in Arizona the lowest-cost silver plan option for a 30-year-old was $147 per month in both years, while in Maine the lowest-cost silver plan option for a 30-year-old was $252 in 2014 and $237 in 2015. In Rhode Island, 2015 premiums for silver plans available to a 30-year-old either on or off an exchange ranged from $217 to $285 per month, a difference of 32%, while in Arizona they ranged from $147 to $545 per month, a difference of 270%. According to the analysis of 28 states, the minimum premiums for silver plans available to a 30-year-old increased between 2014 and 2015 in 18 states, decreased in nine states and were unchanged in one state. The report was requested by the chairmen of the Senate Finance and House Energy and Commerce committees.