Description: This article provides a detailed description of the unbalanced subsidy provisions in the Affordable Care Act with easy to follow numerical illustrations. An understanding of the illustrative calculations is necessary to understand the subsidy implications. The article highlights some surprising and likely unintended results that will be interest to issuers, employers, consumers, regulators and policymakers. Actuaries can add expertise to their clients and to the public discussion with a proper understanding of the subsidy calculations and the resulting implications.

Description: Part I of a two-part series concerning the evolution of the individual market. It begins with background, discusses present markets and 2018 regulations.

Description: Part II of a two-part series discussing individual market evolution from before the ACA through President Trump's first term.