Boston-based Neighborhood Health Plan will raise premium rates an average of 21 percent for consumers on Massachusetts' state health exchange next year, Boston Globe reports.
Neighborhood Health Plans covers a fourth of Massachusetts' residents who enroll for health plans through Massachusetts Health Connect. It is the only subsidized health plan to include Boston-based Partners HealthCare in its network. Therefore, affected policyholders wishing to switch plans because of the hikes would need to change providers.
Massachusetts' Insurance Commissioner Daniel Judson said the increase reflects higher costs with the Affordable Care Act, costlier and sicker patients and rising pharmaceutical expenses.
Massachusetts Health Connect enrolls about 230,000 individuals. Those purchasing unsubsidized plans may see an average 19 percent premium increase next year as well. The exchange has a total of ten insurers and 62 plans available for 2017, according to the report.
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