Affordable Care Act policyholders may soon see a jump in their monthly costs, with premiums for ACA insurance plans expected to see potentially significant increases.
“The ACA premiums are expected to increase approximately 12%, and right now folks are just now getting notified,” said Dr. Heather Miranda, executive vice president of Treasure Coast Community Health (TCCH).
Miranda said she’s concerned the higher premiums will lead many residents to forgo coverage altogether.
“This is going to cause many people to decide not to continue their health insurance because they’re not going to be able to afford it,” she said. “In the end, people are more likely to utilize hospital emergency rooms or not seek care because they can’t afford their insurance premiums.”
She added that while Medicaid patients won’t feel the same impact as of now, many Treasure Coast residents rely on ACA plans for coverage.
“It affects people’s ability to get their prescriptions filled, miss more work and all of those types of things,” Miranda said. “Insurance is that security blanket that a lot of people rely on so they can afford the care they need.”
Miranda said roughly 10 to 15 percent of TCCH’s patients are ACA policyholders, but she believes the effects could ripple beyond that.
“I think individuals in the ALICE population in our community are going to be the most impacted,” she said, referring to residents who are Asset Limited, Income Constrained and Employed. “For them, it’s really a decision about whether they can continue to maintain their health care coverage through insurance.”
Those who lose coverage may find support through local resources like TCCH, which offers programs for uninsured residents.
“We do have programs available to help folks who do not have insurance,” Miranda said. “We have health navigation services that help qualify people for the sliding fee discount, and the Indian River Hospital District provides funding and support for uninsured patients within our organization.”
She noted that similar affordable care options exist throughout the region.
“In some communities, there are free and charitable clinics or other organizations that provide health care at low cost,” she said. “There’s always the option of urgent care or the emergency room, but the challenge there is, obviously, the cost.”
Miranda said TCCH is preparing for an uptick in patients seeking low-cost services if the premium hikes persist.
“I would anticipate that if people lose their insurance, they’re going to be looking for affordable options,” she said. “We do a lot of outreach in the community to educate folks about what we do and what services we have available.”
About 24 million Americans currently rely on ACA plans. The expected increase comes as premium tax credits—meant to keep rates stable—are set to expire. Disagreement in Congress over whether to extend those credits has been one of the sticking points in the ongoing federal government funding dispute.