November 15 marks the beginning of the open enrollment period for 2015 for the government’s health care insurance exchange. Last year, the open enrollment period began on October 1.
Given that rates are generally expected to increase and that there is an election coming up, we probably should not be surprised that the open enrollment period was delayed this year—no point having voters realizing that their promised $2,600 per year of insurance savings is illusory right before an election.
The Manhattan Institute has studied rates and has come up with a great rate comparison tool. This tool allows you to compare what rates were before the Affordable Care Act went into effect and what they are now. It is a fascinating exercise. Without question, there are those places whose rates have declined significantly since the law has been put in place.
Unfortunately, many more have seen their rates increase. On November 15, we will know the full impact.