By Kristen Schorsch – Crain’s Chicago
Prepare for sticker shock. Window shopping for the Obamacare health insurance exchange is officially open.
While the online marketplace at HealthCare.gov doesn’t debut for its fourth year until Nov. 1, consumers and small businesses can now catch a glimpse of what they might pay in monthly premiums, deductibles and other components of health insurance.
In many cases, expect a hit to your wallet. Illinois is among the states where premium rate hikes are “significant,” the state insurance department cautioned two months ago.
In Cook County, for example, individuals can choose from 38 plans with varying degrees of coverage. For a 40-year-old, the cheapest monthly premium is $260.07 for a health plan from Cigna, which is new to the Illinois exchange this year, according to a Crain’s analysis. The most expensive? A $592.11 premium for a plan from Chicago-based giant Blue Cross & Blue Shield of Illinois, which has dominated the exchange since its debut.
Deductibles range from $1,000 to $7,150.