Today eHealth released some interesting information on consumer shopping patterns and the cost of health insurance during the first three weeks of the current open enrollment period.
According to data published today, $315 was the average monthly premium for individual health insurance plans selected by eHealth shoppers not utilizing government subsidies between November 15 and December 5, 2014.
This represents an increase of 16% compared to the average premium of $271 per month for 2014 plans selected over the course of the prior open enrollment period, which ran from October 2013 through March 2014.
But that’s not the whole story.
As previously reported by eHealth, early shoppers during the prior open enrollment period tended to select plans with higher monthly premiums than shoppers who selected plans closer to the end of open enrollment.
Will we see the same kind of pattern this year?
We may, though it’s a bit early to say for sure. The average monthly premium for individual coverage reported by eHealth today represents an increase of 2% when compared to the average premium for 2014 individual health insurance plans selected by eHealth customers during the first half of the prior open enrollment period only ($309 for the period from October – December 2013).
While the data eHealth published today does not reflect trends among consumers utilizing government subsidies, eHealth is also able to enroll subsidy-eligible consumers in the majority of states served by the federally-facilitated marketplace and in its home state of California.
In the first three weeks of the current open enrollment period (November 15 to December 5, 2014), eHealth also found:
- Deductibles decreasing: The average deductible for individual plans selected by eHealth shoppers declined by 9% when compared to the average deductible for individual plans selected during the prior open enrollment period.
- Premiums increasing: Increases in average premiums and decreases in average deductibles were also noted among family plans selected by eHealth shoppers when compared to the prior open enrollment period.
- Average age of shoppers increasing: The average age of shoppers selecting plans increased to 40 compared to an average age of 38 over the prior open enrollment period, which may suggest that younger shoppers are delaying enrollment until later, a trend observed during the prior open enrollment period.
- Reshopping trends: Nearly half (48%) of shoppers in the first three weeks of the current open enrollment period were currently insured and reshopping for 2015 coverage, according to a voluntary survey of eHealth customers.
Want to look at more data? Check out eHealth’s press release.
