Providence Health Plans, which is part of Renton, Wash.-based Providence Health & Services, provides health coverage to more than 375,000 people. According to the report, this rate increase would affect more than 12,000 Oregon residents.
The health plan contends the rate increase is justified due to increased healthcare costs and higher utilization, while opponents have deemed the rate hike excessive.
The Oregon Insurance Division has the final say on the rate increase. Over the past five years, the OID has approved rate increases of 4 percent, 12.9 percent, 15.5 percent, 25 percent and 12 percent for Providence Health Plans’ individual health plans.
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