JLF’s Katherine Restrepo writes here about what’s to come with Obamacare, and what we can learn from data released by Blue Cross Blue Shield of North Carolina about their Obamacare enrollees.
Last Friday, Barbara Morales Burke, Blue Cross and Blue Shield of North Carolina’s VP of Health Policy, presented some critical information that reaffirms projections made by health policy experts since before the health insurance exchanges opened for business in October 2013.
“Blue Cross (Affordable Care Act) customers are older, have more chronic conditions than we anticipated than when we set rates for 2014 last year,” she said. “So when we set rates this year for 2015 ACA plans, those rates will need to be higher to reflect anticipated healthcare needs and usage of new ACA customers.”
Since insurers can no longer inquire about health status on policy applications, how does BCBSNC know that their enrollees, even in the younger age bands, are more costly? In addition to analyzing submitted claims, the company also offers a voluntary online health survey where individual exchange enrollees can self-report their health needs and health care usage.
So what should we watch for next to gauge Obamacare? Restrepo weighs in:
Stay tuned for later this month when insurers must submit 2015 rates. The widely anticipated increase in premiums could very well slow the pace of enrollment in future years. More problems will arise once individuals find out that they are either underinsured or cannot afford a high deductible health plan coupled with an expensive monthly premium — even those eligible for financial assistance.
Things will only get more interesting.
