Health insurance premiums for Healthcare.gov plans will drop 5.1% in Louisiana for the most commonly purchased plan next year, according to new data from the Centers for Medicare & Medicaid Services.
Louisiana is one of 39 states experiencing the decrease. The drop—which is in double digits in some states—is the first of its kind since the health care law was implemented in 2010, reports Governing.
A 27-year-old nonsmoker will pay $372 in average monthly premiums next year in Louisiana for the second-lowest-cost silver plan—the most commonly bought plan—compared to $392 in 2018. The 5.1% decrease comes after two years of double-digit percentage increases—15.6% in 2018 and 17.7% in 2017.
CMS Administrator Seema Verma says the reductions along with increased issuer participation suggests the Trump administration was working to stabilize the market, not sabotage it.
“Despite predictions that our actions would increase rates and destabilize the markets, the opposite has happened. The drop in benchmark plan premiums for plan year 2019 and the increased choices for Americans seeking insurance on the exchanges is proof positive that our actions are working,” says CMS Administrator Seema Verma.
With a 26.2% decrease, Tennessee will see the largest drop in insurance premiums.