2020 will bring plenty of changes to the individual and family health insurance. One of the most significant changes is the expansion of subsidies from 400% of the Federal Poverty Level in 2019 to 600% in 2020. This means that an individual making nearly $75,000 or a family of four making up to $154,500 may be eligible for premium tax credits in 2020. On the other hand, we are seeing this new subsidy expansion apply more favorably to Northern California residents who on average have higher monthly premiums due to weaker hospital system competition and a higher cost of living.
Furthermore, Anthem Blue Cross is reintroducing its HMO plans into Los Angeles and the Inland Empire as well as EPO plans in the Central Valley and the Central Coast after leaving those markets in 2018. There are also some slight changes to the benefits of each plan and even some new off-exchange plans in 2020.
Below are some changes from the major carriers:
Blue Shield
- 1850 PPO becomes the Silver 1950 PPO with an increased $1,950 medical deductible, $300 drug deductible and 35% coinsurance
- NEW Silver 2600 HDHP PPO – a new Silver HSA compatible plan will be available with a $2,600 medical deductible
- Moving of acupuncture service administrator to ASH (American Specialty Health)
Oscar
- Covered California Oscar plans will now be called Oscar Select but will also exclude UCLA from their provider network to add lower-priced options for subsidized members
- Off-exchange will offer Oscar Circle (old plan network with UCLA in-network) and Oscar Select (without UCLA)
- Removal of HDHP HSA compatible plans due to compliance issues with free telemedicine (doctors on call)
Kaiser
- Silver 2150 HMO becomes the Silver 2500 HMO with a $2,500 medical deductible
- Bronze HDHP HMO 5500/40% becomes the Bronze HDHP HMO 6800/40% HMO with a higher $6,800 medical deductible
Health Net
- Standardized plan changes to the Bronze 60, Silver 70, Gold 80 & Platinum 90 benefits (same as all other carriers)
Anthem
- New Pathway HMO in LA with access to Cedars-Sinai, Providence Little Company of Mary San Pedro & Torrance, Providence Holy Cross, Glendale Adventist, Hollywood Presbyterian and more (NO UCLA or Providence St. Johns, St. Josephs or Tarzana)
HSA Contributions
- Individuals can contribute up to $3,550 or $7,100 for a family in 2020 ($50 increase for a person or $100 increase for a family from 2019)
With new premium assistance, plan changes and even a new insurance carrier to choose from for 2020, please do not hesitate to contact us to go over your health insurance options.
At Solid Health Insurance Services, we are always here to keep our clients informed about the latest trends in the health insurance marketplace. Please contact us at 310-909-6135 or at info@solidhealthinsurance.com to go over your health, dental, vision, life, and long-term care insurance needs. We are always happy to assist you to find a suitable health plan for both your budget and medical needs.