Kaiser Family Foundation found Americans who bought the cheapest insurance plan through HealthCare.gov will face premium increases of approximately 15 percent unless they switch to a different health plan, according to The Washington Post.
Here are five things to know:
1. The analysis found premiums are rising for 2016 for nearly all of Healthcare.Gov's plans.
2. In approximately 75 percent of counties where consumers purchased coverage through HealthCare.gov, the cheapest option for 2015 will no longer have the lowest premiums in 2016.
3. Individuals who switch to the new least-expensive silver plan in their area will save an average of $344 during 2016.
4. In almost 400 counties, the savings surpass $500 for individuals who switch plans.
5. In 2014, almost half of people who renewed coverage in the federal exchange returned to HealthCare.gov to compare plans. Of these people, nearly one in three switched plans.
More articles on coding & billing:
An all time low — High premiums, copays driving health insurance dissatisfaction
Healthcare in reach for consumers who can't afford premium costs — 5 observations on the Detroit nonprofit
Consumers questioning usefulness of health insurance — Here's why