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A handful of states are requesting to hike rates on individual health insurance plans sold on the ACA exchange for next year. Seven of the payer’s who want the premiums increased by double-digits have been listed below
- Highmark Blue Cross Blue Shield
The payer based in Wilmington, Delaware wants the premium on an individual ACA exchange plan to be raised by an average 33.6 percent in 2018. The increase proposed is based on the assumption that the cost-sharing reductions helmed by ACA, which helped insurers make up the loss incurred by giving low-income enrollees discounted deductibles, which will be discontinued next year. The proposal is still under review by the Delaware Department of Insurance.
- Blue Cross Blue Shield
The insurance provider in Detroit, Michigan is pushing for a rise in premiums for the individual plans by 26.9 percent which could increase further to 31.7 percent if the federal subsidies are cancelled. The payer has cited several reasons to validate their request including the increasing drug prices, one-fifth of the enrollees opting out after receiving the health services requires, a low number of young policy holders and being the sole preferred provider for the Michigan ACA exchange. Last year, BCSM received federal subsidies of $166 million to offset the costs incurred by covering health expenses for low-income customers.
- Anthem
Policyholders have urged State legislators to reject Anthem’s request for an increase of 33.8 percent in the premium rates for next year because they will not be able to afford it. After an increase in 2017, another subsequent rise will bring insurance prices to 80 percent higher than they were two years ago. 35,0000 individuals will suffer from the additional rise.
- California
The exchange in California has instructed insurers to raise the premium rates if the ACA cost-sharing reductions are not paid by the federal government by August. A recently conducted analysis has revealed that the premiums for silver ACA health plans will face an increase of 16.6 percent if the reductions are not paid.
- New York
Insurers in New York are calling for an increase in ACA exchange plan premiums 16.6 percent. The reasons for the change have not been specified but other insurers in the U.S. are citing the uncertainty surrounding cost-sharing reductions paid by the federal government.
- Blue Cross and Blue Shield
In Durham, North Carolina a 22.9 percent increase in the average rate for health plans was requested. The insurer has said if the cost-sharing reductions were fully funded then they would only increase the premiums by 8.8 percent. The payer also cited increasing medical costs as one of the reasons for the rise
- CareFirst
CareFirst in Baltimore seeks an increase by 52 percent for Maryland and 21.5 percent in Virginia for families and individuals on their health coverage consumer list. They are also seeking a 40 percent increase for Washington D.C. for the organization plans and 20 percent for those with preferred provider plans.
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