Obama officials say the average prices for healthcare coverage on Healthcare.gov will increase in 2015, the Associated Press reported Thursday.
The Department of Health and Human Services says customers purchasing the lowest cost "silver" plans, which are the most popular type of plans in the states using the federal exchanges, should see an average increase of five percent. The second-lowest cost "silver" plans, meanwhile, are expected to only increase in cost by two percent, on average.
HHS is urging customers to shop around, claiming that more than seven in 10 can find lower prices before tax credits. The department also claims that nearly two-thirds of current Marketplace enrollees can find coverage for $100 or less in 2015.
The HHS report also claims customers will have more choices when shopping around, with 90 percent enjoying at least three options this year, compared to 74 percent in 2013.
“The Health Insurance Marketplace is open for business, and consumers have affordable choices for renewing their coverage and signing up for the first time,” HHS Secretary Sylvia M. Burwell said in a statement. “In today’s Marketplace, issuers are competing for business. With additional quality, affordable plans available, returning customers may find an even better deal if they shop and save.”
Total healthcare spending in the United States grew at the slowest rate in 50 years in 2013, according to data released Wednesday. That data does not include the insurance expansion created by Obamacare.
Open enrollment on the exchanges began Nov. 15 and ends Feb. 15.
HHS has set a goal of 9.1 million signups on the exchanges by the end of 2015.