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On Oct. 15, Covered California launched open enrollment for the 2020 coverage year, with restoration of the individual mandate and the new state subsidy program for middle-income Californians who previously did not qualify for financial help because their income exceeded federal limits.
According to Covered California, the new state subsidies will give almost 1 million people more help with their premiums. The subsidies and the mandate together are key elements for a record-low 0.8% average premium increase for the upcoming year.
In addition, a Covered California analysis found that 75% of existing consumers will be able to reduce their coverage cost and receive the same level of benefits if they switch to the lowest-cost plan in the same metal tier.
A new state law extends open enrollment through Jan. 31, 2020. Consumers who sign up by Dec. 15 will have coverage starting Jan. 1.