The 2017 open enrollment period begins. This marks the start to enroll, re-enroll or change insurance plans for 2017 through the federally-facilitated marketplace (FFM). 

While there has been a great deal of news surrounding premium increases across the nation, New Jersey premium increases were among the lowest nationally.

Recently released reports from the Office of the Assistant Secretary for Planning and Evaluation (ASPE) within the U.S. Department of Health and Human Services, indicate the importance of “actively” shopping for insurance. ASPE’s research brief contains specific information on 2017 premiums and plan choices that indicates the average percentage change in the second-lowest cost silver premium for a 27-year-old is 5 percent. However, for the same 27-year-old, the average amount of the advance premium tax credit (APTC) also went up by 12 percent.

ASPE also released data on individuals that are still purchasing coverage off the FFM that may be eligible for a tax credit. The tax credit cannot be used to buy insurance off the marketplace so these people may be over-paying for insurance coverage by not using the FFM. The report estimates that approximately 44,000 individuals in New Jersey purchasing insurance off the FFM may be eligible for savings from a tax credit if they were to purchase through the FFM.

All providers are encouraged to share information with their patients about the importance of shopping for coverage. During a recent AHA webinar with HHS Secretary Sylvia Burwell, AHA stressed the importance of all community stakeholders, including hospitals, to reach out to consumers. AHA also shared a video encouraging young adults to enroll that hospitals and other providers can use in their efforts.