Open enrollment is underway for Virginia’s health insurance marketplace. However, with federal tax subsidies set to expire at the end of the year, per the federal spending bill that was signed this week, Virginians could see much higher monthly premiums. WMRA’s Calvin Pynn spoke with Keven Patchett, the director of Virginia’s Health Benefit Exchange, about what to expect.
Keven Patchett: We are concerned at how rising costs can impact customers across Virginia. The important thing is that this is the time of year for Virginians to shop for and enroll in health insurance coverage. And we've got a wide range of resources available to help make that process as simple and seamless as we can. Those rising costs that you mentioned, they are going to be different for everyone depending on their unique situation. So, the best thing to do really is to come to marketplace.virginia.gov and see what's available. There are still financial assistance options that are available for most of our customers. So, you know, this is the time of year to explore those options.
WMRA: When Virginia started its own state healthcare marketplace two years ago, I believe now, how exactly does that work in tandem with the federal tax credits?
Patchett: Sure. So, the decision to transition Virginia from using healthcare.gov to using a marketplace that was by Virginia for Virginians really was centered on providing that unique customer service experience to Virginia. The quality of the plans, the available financial assistance through federal tax credits and other sources are all still available. All the plans sold through the marketplace still meet the 10 essential health benefits and provide those important protections against things like pre-existing conditions. So, the framework stays the same, but now we have the opportunity, as I said, to uniquely tailor the experience to meet the needs of Virginians.
WMRA: You touched on this a little bit earlier, but I'd like to dive into it a little more. With increasing premiums, you know, there are still going to be plenty of people here in Virginia who are hesitant about signing up because of those premiums. You mentioned resources in place. Could you tell me a little bit more about those?
Patchett: Sure. I think of this as now more than ever, it's important to be a good consumer of your health insurance product. And while costs are rising, it's important to balance that against quality and making sure that the coverage that you have is comprehensive. That includes things like emergency room services and hospitalization, prescription medication and preventative care. Understanding the impact of the cost changes that I think a lot of us are reading about, it really does start with logging into the website and seeing how that applies to individual circumstances. We also have some plan comparison tools that will allow Virginians to shop for and compare plans, not just based on things like coverage and whether or not their doctor or prescription medication is coverage, but also on price. There are a number of pricing tiers available. And as I said, there are still financial assistance programs to help lower that monthly cost of health insurance.
WMRA: Are there any changes to the marketplace anticipated maybe in the next year with the incoming administration in Richmond?
Patchett: We expect that the marketplace will continue to provide all the same services to Virginians at the same level of quality. We're excited to have opportunities to work with the new administration and we'll continue to build those relationships that are important to delivering quality and timely health insurance services to Virginians.
WMRA: While I've got you here, is there anything else I didn't think to ask that you'd like to say that you feel like Virginians should know about this?
Patchett: I think the important things really are it's open enrollment season that runs from November 1st to January 30th and the importance of shopping for and comparing health insurance plans to make sure that Virginia customers get the plan that's right for them.
WMRA: All right. Well, Kevin, thank you so much for taking the time and shedding some light on this for anyone who is maybe navigating this for the first time?
Patchett Thank you. My pleasure.
