California Health Insurance Marketplace in 2023

Key Points:

• 1.7 million California residents enrolled,
• 12 insurance companies to choose from,
• The lowest deductible for the cheapest Silver plans is $4,750 state-wide.

Changes in the cheapest Silver plans on the California health insurance marketplace in 2023:

• Monthly premium has gone up across California, by an average of 4.9%,
• Annual deductible amount has gone up by $1,050,
• Maximum out-of-pocket amount has gone up by $550.

Does California Have a HealthCare Marketplace?

Yes, California has its own state-based and state-controlled health insurance marketplace - Covered California. Covered CA offers Californians access to Affordable Care Act (ACA) compliant health insurance coverage, which can be purchased individually or to cover the entire family.

Who Is Eligible for Coverage Through the California Health Marketplace?

All lawful permanent and temporary residents of California are eligible for coverage on the California’s private health insurance marketplace if they do not get coverage elsewhere (i.e. employer, family members, etc.). Refugees, asylees, and other humanitarian immigrants are also qualified to coverage through Covered California.

When Is The Open Enrollment Period On The California Health Marketplace?

California’s individual health insurance marketplace has an open enrollment period from 1 November through 31 January (per S.B. 1473). During the rest of the year you must qualify for coverage based on special circumstances, such as losing a job and losing employer-sponsored health coverage.

How Many People Have Enrolled Through California’s Health Insurance Marketplace in 2023

During the open enrollment period of 1 November, 2022 - 31 January, 2023: 1,719,130 Californians obtained coverage through Covered California Marketplace either for themselves alone or for their families.

Which Health Insurance Companies Offer Coverage on the California Marketplace in 2023?

In 2023, twelve insurers offer health insurance plans to the residents of California through the state-based health marketplace:

• Aetna (CVS Health)
• Anthem (Blue Cross Of California)
• Blue Shield of California
• Chinese Community Health Plan
• Health Net
• Kaiser Permanente
• L.A. Care Health Plan (a local health care plan)
• Molina Healthcare
• Oscar Health Plan of California
• Sharp Health Plan
• Valley Health Plan (a local health care plan)
• Western Health Advantage

Notes:

• All health insurance plans sold on the marketplace exchange are compliant with the Affordable Care Act.
• In 2023: Aetna joins Covered CA; Bright Healthcare seizes offering individual and family health insurance plans to California’s residents.

Cheapest Silver Health Insurance Plans in California in 2023

The offering of the cheapest silver plans on the California health insurance marketplace has changed:

• Aetna CVS (new for 2023) has entered the market by offering the cheapest silver health plan El Dorado county, displacing Kaiser Permanente.
• Anthem (Blue Cross of California) retained the cheapest offerings in the majority of the Golden State.
• Blue Shield of California now offers the cheapest silver plans in 17 counties.
• Kaiser Permanente has lost three quarters of its positions, remaining the cheapest just in two counties.
• L.A. Care Health Plan remained the cheapest only in Los Angeles county.
• Molina Healthcare lost the cheapest position in San Diego county to Anthem.
• Valley Health Plan remained the cheapest in San Benito and Santa Clara counties.

Note: Comparison is made using the cheapest Silver plan for a 35-year old individual.

How Did Individual Health Insurance Premiums Change in California in 2023?

In 2023, the cost of the cheapest Silver plans in California has gone up by an average of $22.67 per month ($272.04 per year), compared with 2022. The largest price increase was seen from Molina Healthcare, while the largest price decrease was provided by Kaiser Permanente. L.A. Care Health Plan remained the cheapest health insurer for Silver plans in California:

• Aetna CVS, as the new entrant, comes in as the 5th cheapest overall.
• Anthem (Blue Cross of California) increased the price of its cheapest plans by an average of 7.01% ($33.17 per month or $398.04 per year).
• Blue Shield of California decreased the prices of the cheapest silver plan by an average of -2.74% (saving the insured an average of $12.75 per month or $153 for the year).
• Kaiser Permanente increased the average price of the cheapest silver plan by an average of 5.43% ($26.91 per month or $322.92 for the year).
• L.A. Care Health Plan increased the premium by an average of 5.71% ($17.70 per month or $212.40 for the year).
• Molina Healthcare saw the largest premium increase, adding an average of 11.9% ($38.88 per month or $466.56 for the year).
• Valley Health Plan increased the cost by an average of 0.88% ($4.24 per month or $50.88).

The largest price premium INCREASE for Silver health plans in California was in Inyo County.

The largest price premium DECREASES for Silver health plans in California were in the following counties: San Joaquin, Stanislaus, and San Benito.

2023 Subsidies for Health Insurance in California

Covered CA offers subsidies to the insured if they earn between 100% and 400% of Federal Poverty Line (FPL). The more you earn, the less you get in subsidies. In 2023, California residents received discounts and savings on health insurance if they earned between $13,590 and $54,360 per year (as individuals), $18,310-$73,240 (for a family of 2), $23,030 - $92,120 (for a family of 3), and so on. A family of 8 receives help if it earns between $46,630 and $186,520 per year.

How Did Individual Health Insurance Annual Deductible Change in California for 2023

In 2023, the annual health insurance deductible for the cheapest California silver plan increased across the state by $1,050, from $3,700 in 2022 to $4,750 in 2023 - a 28.3 percent increase.

How Did Health Insurance Maximum Out of Pocket (MOOP) Change in California for 2023

While the federally-set maximum out of pocket amount has increased from $8,700 (in 2022) to $9,100 in 2023, Covered California exercised its privilege of being a state-based marketplace and offered lower requirements to its users. In 2023, the cheapest Silver plans on Covered CA came with a MOOP of $8,700 - an increase of $550 from $8,200 in 2023.

Health Insurance Outside of the California Marketplace

If you earn too much or too little to qualify for subsidies through Covered CA, you can look for insurance coverage through health plans that are not offered on the Covered California marketplace. To do that - speak with a licensed California health insurance agent who can match you with affordable coverage to fit your needs or buy the coverage directly from the insurer. Ask your agent for more details on how supplemental policies can help you save money and get better protection for when you get sick or injured.