CMS announces average premiums for 2021 benchmark plans

Oct 20, 2020 - 02:48 PM
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The average premium for a benchmark plan at HealthCare.gov will decline 2% in 2021 to $379, the Centers for Medicare & Medicaid Services announced yesterday. For 36 states using HealthCare.gov to sell plans in the individual health insurance market, the average premium change in 2021 for a benchmark (second-lowest-cost silver) plan for a 27-year-old adult will range from a 29% decline in Iowa to a 29% increase in North Dakota, according to data released by the agency.

An additional 22 qualified health plan issuers will offer coverage through the federally-facilitated exchange in 2021, and the number of enrollees with access to only one insurer will drop from 12% to 4%, CMS said. Open enrollment for 2021 coverage through HealthCare.gov begins Nov. 1 and runs through Dec. 15.

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