For Illinoisans who purchase health insurance on the Affordable Care Act (ACA) exchange—more than 350,000 people—premiums could increase by anywhere from 5 percent to 43 percent in 2018.
Blue Cross and Blue Shield of Illinois has proposed average hikes of 38.2 percent for BlueCare Direct HMO plans, 14.5 percent for Blue Precision HMO plans, 9.3 percent for Blue FocusCare HMO plans, and 5.4 percent for Blue Choice Preferred PPO plans, the Chicago Tribune reported. Cigna has also requested an average 37.7 percent increase, Celtic Insurance Co. has proposed hikes of more than 15 percent, and Health Alliance Medical Plans has proposed rate hikes of as much as 43 percent.
In addition to ever-rising costs of medical care and prescription drugs, the continued uncertainty and instability surrounding the health insurance market is to blame. Given federal lawmakers’ failed attempts to repeal the ACA, as well as President Trump’s threats to allow the ACA to implode—by ending cost-sharing reduction payments to insurers, among other things—the healthcare law’s future remains a question mark.
The rate hikes requested by insurers are not final, but because Illinois is a “file and use” state, officials cannot change or reject the proposed rates, but only negotiate to try and persuade the insurance companies to lower them.