Market Competition Works: Proposed Silver Premiums in the 2014 Individual Market Are Substantially Lower than Expected

A goal of the Affordable Care Act is to increase competition and transparency in the markets for individual and small group insurance, leading to higher quality, more affordable products. As of August 2013, sixteen states have released information on proposed or final premiums for the Marketplaces in 2014. This research brief analyzes those proposed and final rates and compares them to those estimated by the Congressional Budget Office (CBO). Overall, silver premiums in the 2014 individual market are substantially lower than expected. [6 PDF pages]