Thanks to government subsidies, many Missouri residents will be able to afford health insurance for the first time, beginning in 2014. But the insurance they’ll be able to buy will offer a limited range of options.
This trend toward less value is not only happening on the new health insurance marketplaces, also known as health exchanges in Missouri and other states, but also on the “open market,” where health policies have traditionally been sold. In 2014, experts say, health care consumers are likely to face higher monthly premiums and more financial risk as deductibles and out-of-pocket limits rise.
The sticker shock will be greatest for those who already have individual insurance policies and don’t qualify for subsidies. The new health insurance online exchange run in Missouri by the federal government offers plans from only two insurers, Coventry and Blue Cross Blue Shield for most areas of the state.