Covered California announces new health plans and rates for 2024

SANTA BARBARA COUNTY, Calif. – Covered California, a state-wide health insurance service, announced its rates and carriers for the 2024 coverage year on Tuesday morning.

With the new changes, the company said the upcoming year will provide more affordability support than ever before.

The announcement shared a preliminary weighted average rate increase of 9.6%, which Covered California said "can be attributed to many factors, including a continued rise in health care utilization following the pandemic, increases in pharmacy costs, and inflationary pressures in the health care industry, such as the rising cost of care, labor shortages and salary and wage increases."

However, the company said many enrollees will not see any change in what they pay each month for their coverage in 2024.

“While this is a challenging year for health care costs, Covered California’s market remains stable and continues to deliver more choices to our consumers,” said Covered California Executive Director Jessica Altman. “Despite this year’s increases, because of the extension of enhanced federal subsidies through the Inflation Reduction Act and new financial support from the state, Californians will have more help paying for their plan than ever. In fact, many consumers who receive financial help will see no change to their monthly premiums, and some will see their deductibles eliminated entirely.”

In addition, Covered California’s online enrollment portal and certified enrollers also help people find out whether they are eligible for Medi-Cal.

For more information on these changes, click here.