Health Insurance Rate Requests Roll In As High As A 16% Increase

Date: June 06, 2018

Related Content: News Healthcare Oregon

Oregon’s health insurance rates may increase by 16 percent for some Oregonians in 2019. This is one of the many options that Oregon health insurers have requested.

The Portland Business Journal cites Oregon Department of Consumer and Business Services which found that the individual market’s average requests range from a 9.6 percent decrease from PacificSource Health Plans to a 16.3 percent increase from Health Net Health Plan of Oregon

Providence—which is found in every county on- and off-exchange and has the most members in the individual market—is requesting a 13.6 percent increase. The No. 2 health Insurance provider, Kaiser, wants to raise rates by 14.3 percent in the individual market, according to the Portland Business Journal.

There are about 192,000 people in Oregon’s individual market, both on and off the health insurance marketplace, HealthCare.gov. About 74 percent of people who enroll through HealthCare.gov qualify for tax credits this year and are insulated from rate hikes.

When it comes to small group insurance rates, the requests range from a 4 percent decrease from Health Net to a 8.9 percent increase from UnitedHealthcare of Oregon Inc, according to the DCBS.

The requests are the beginning of a months-long process that will include public comment and analysis by DCBS actuaries. Preliminary decisions will roll out on June 29, with the final decision scheduled for July 19.

 

Related Content: News | Healthcare | Oregon

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