Health insurers request average 7.16% rate increase for individual health insurance market
Fourteen health insurers filed an average requested rate increase of 7.16% for Washington’s individual health insurance market. The plans and proposed rates are currently under review and final decisions will be made this fall.
“More than 200,000 people in Washington State get their health coverage through our individual market,” Insurance Commissioner Mike Kreidler said. “It’s critical they have choices for meaningful and affordable coverage. Fourteen insurers have filed plans for next year, and while the choices vary depending on where you live, our market is thriving. I know that premiums and cost-sharing are still high for many, especially those who don’t qualify for subsidies, and we need to do more to address the underlying costs drivers of health care.”
People who do not get health insurance coverage from their employer shop for insurance in the individual market. Premium subsidies are available, based on income through Washington’s Exchange.
An estimated 223,202 Washingtonians are currently enrolled in health plans through the individual market.
The 14 insurers who requested rate increases are Asuris Northwest Health, BridgeSpan Health Company, Community Health Plan of Washington, Coordinated Care Corporation, Kaiser Foundation Health Plan of the Northwest, Kaiser Foundation Health Plan of Washington, LifeWise Health Plan of Washington, Molina Healthcare of Washington, Inc., PacificSource Health Plan, Premera Blue Cross, Providence Health Plan, Regence BlueCross BlueShield of Oregon, Regence BlueShield, and UnitedHealthcare of Oregon, Inc.
This press release was provided by the Washington State Office of the Insurance Commissioner.