WASHINGTON, Aug. 14, 2024 /PRNewswire/ -- The American
Academy of Actuaries is shedding light on the factors and trends
likely to affect the health insurance premiums that millions of
Americans will pay in 2025 versus 2024 in a new issue
brief, Drivers of 2025 Health Insurance Premium
Changes.
"Pressures on ACA-market premiums are relatively mild compared
to some previous years, but there is some upward pressure from
higher prescription costs and, to a lesser degree, inflation," said
Academy Senior Health Fellow Cori Uccello. "Changes in risk pools
are not seen as likely to have a major effect on next year's
premiums overall, though it's always important to keep in mind that
individual insurers may be affected by specific factors, trends,
and developments in their state or regional markets."
Developed by the Academy's Individual and Small Group Markets
Committee, the analysis draws on the actuarial profession's
expertise in the health insurance rate-setting process to identify
key trends that have emerged in the past year that could affect
gross health insurance premium rates in individual and small group
markets regulated by the Affordable Care Act (ACA). The annual
analysis is produced as part of the Academy's mission to serve the
public and the U.S. actuarial profession, providing a description
of the trends across markets broadly and not information for use in
rate filings by particular insurers that may be affected by trends
and factors within their specific markets.
The Academy uses the analysis to educate the public, public
policymakers and regulators, and other insurance stakeholders about
the trends that could affect gross premiums, and an accompanying,
accessible Academy infographic highlights the market-wide
trends explored in the issue brief. Learn more about this and other
aspects of the Academy's comprehensive public policy work on health
care issues at actuary.org.
The American Academy of Actuaries is a 20,000-member
professional association whose mission is to serve the public and
the U.S. actuarial profession. For more than 50 years, the Academy
has assisted public policymakers on all levels by providing
leadership, objective expertise, and actuarial advice on risk and
financial security issues. The Academy also sets qualification,
practice, and professionalism standards for actuaries in
the United States.
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SOURCE American Academy of Actuaries