1st wave of insurer rate requests may signal higher premiums for 2018 ACA plans

Four states recently released proposed premium rate increases for 2018 ACA marketplace plans, suggesting insurers may continue to seek significant hikes — with some requests surpassing the average 25 percent increase for 2017, according to The Washington Post.

Here are four things to know.

1. Baltimore, Md.-based CareFirst filed requests to raise rates an average of 52 percent in Maryland and 21.5 percent in Virginia for individuals and families buying their own coverage, according to the report. In Washington, D.C., the payer is seeking an average increase of 40 percent for its health maintenance organization plans and 20 percent for its preferred provider organization plans.

2. Indianapolis-based Anthem, another insurer selling ACA plans in Virginia, is requesting an average rate increase of 38 percent in the state, which is more than twice its rate hike from 2016 to 2017, The Washington Post reports. In Connecticut, Anthem is looking for a 34 percent average premium rate increase.   

3. While BlueCross BlueShield of Tennessee announced plans Tuesday to reenter the ACA exchange for Knoxville residents in 2018 after exiting the market in 2017, the insurer's president J.D. Hickey said in a letter to state regulators the decision is not "a reflection of our perspective on the stability of [the] individual marketplace overall. In fact, we can't justify doing so based solely on current political uncertainty." He added 2018 premiums, which are required to be filed by July 1 in the state, will "price-in those downside risks."

4. Several states have delayed the deadline for insurers to file proposed 2018 premium rate increases due to uncertainties regarding Republicans' ACA repeal and replacement efforts, according to the report. 

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