2023 Premium Increases while coverage decreases

You would have gotten an even higher premium increase had the deductible and the OOP max not increased. Insurance carriers are required to fit all plans into metal levels that are defined by “actuarial value” (the average % of claims the insurer pays) and most likely had to increase the deductible and OOP max to stay in the permissible range for your metal level.

If you’re like most people who receive premium tax subsidies, your premium is just as likely to be driven as a change in subsidy amount as an actual increase given by your insurance company. The subsidy amount is linked to the second lowest cost silver plan in your zip code and if that changed, your subsidy could have been reduced and be part of what’s driving your higher premiums.

But in general inflation is high and claims costs are up and most people are getting rate increases. You should expect to pay more every year for the same or worse benefits….you should not expect to get a rate increase and a benefit improvement.