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Nebraska’s exchange, which will be the Federally Facilitated Marketplace (FFM), will go live October 1, and they recently revealed the proposed rates that would be available on the exchange. Let’s take a look.

Sample Rates and Insurance Carriers Operating on Nebraska HIX

Four insurance carriers will be participating in the exchange and all will be offering individual and/or small business health insurance plans. While the rates that were released are not final, Blue Cross Blue Shield of Nebraska, Coventry Health, CoOportunity, and Health Alliance Midwest, the participating carriers, will finalize their respective plans by October 1…

Let’s take a look at some scenarios based on the proposed rates for individual and small businesses

•    A 27-year-old nonsmoker will have to pay $200 per month for a Bronze plan by Blue Cross Blue Shield of Nebraska. For a 42-year-old nonsmoker, the same plan will increase to $253 a month.

•    A 42-year-old nonsmoker will have to pay $296 per month for a Silver plan from Coventry. The cost for the same plan for a 27-year-old nonsmoker would be $234 per month.

•    For a small employer, $289 will be due for a 27-year-old nonsmoker employee choosing a Silver plan from Coventry. The same plan will increase to $366/monthly for a 42-year-old nonsmoker employee.

•    Similarly for a small employer, a Gold Blue Cross Blue Shield plan for a 27-year-old nonsmoker employee will cost $363 per month, and the same plan will rise to $459 for a 42-year-old nonsmoker.

A look at these rates reveals that they are about 22 to 25 percent higher than insurance premiums for the 2013. While this might look like an increase to some, it is an “apples to oranges” comparison as the 2013 health insurance rates cover a much smaller scope of insurance coverage. In a nutshell, insurance plans starting in 2014 should be more affordable and more comprehensive. In light of this analysis and the sample rates, Nebraska seems to be a in the position to offer its residents a variety of choices, robust plans and very reasonable rates.

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