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Oklahoma Insurance Commissioner Warns of Rising ACA Costs: What You Need to Know
As Oklahomans prepare for the upcoming year, the state’s Insurance Commissioner is sounding the alarm about potential increases in the cost of health insurance through the Affordable Care Act (ACA). Commissioner Glen Mulready issued a warning to residents, advising them to brace for higher premiums and out-of-pocket costs in 2025.
The rise in ACA premiums is linked to a combination of factors, including inflation, the rising cost of healthcare services, and changes in federal funding for subsidies. While the Biden administration has worked to make health insurance more affordable for Americans through expanded subsidies, those measures may not be enough to prevent an increase in premiums for some Oklahomans.
Mulready urged individuals and families to explore their options carefully during the upcoming open enrollment period, which begins in November. He emphasized that many Oklahomans may qualify for assistance through state-based programs or federal tax credits that can help offset these rising costs. However, some residents may face sharp increases in monthly premiums, especially those without access to subsidies or those whose income places them just above the eligibility threshold.
The commissioner also reminded Oklahomans to shop around for plans that best fit their needs and budget, as several insurers offer plans on the ACA marketplace. Understanding the full scope of what’s available, including the level of coverage, premiums, and deductible costs, can help mitigate some of the financial strain.
Oklahomans are encouraged to stay informed and take action to ensure they’re getting the most affordable and comprehensive health coverage available to them.
