The Delaware Department of Insurance reported Thursday those insured under Highmark Blue Cross Blue Shield and Aetna could face double-digit rate increases in 2017, according to Delaware State News.
Highmark BCBS requested an average increase of 32.5 percent for individual plans, and 2.7 percent for small group plans, according to its filings. Some 11,629 members would be affected by the increase.
Aetna expects medical costs to increase by 11 percent in 2017. Aetna said this year alone it experienced a 9 percent increase in pharmacy prescriptions and 6 percent increase in inpatient facility visits. Consequently, the insurer requested rate increases varying from 19.5 percent to 30.7 percent, the average falling at 25 percent. Aetna also requested 23.2 percent increases in small group rates. These changes could affect 1,531 people.
Insurers cited rising medical costs as justifications for the hikes. Highmark BCBS stated that "the assumed trend is a necessary component of the change."
The rate increases are higher than the rates approved for 2016, according to Delaware State News. Three public hearings will be held in June to discuss the requests. The rates will be examined by the department, and Insurance Commissioner Karen Weldin Stewart will turn in a proposal to be approved by the federal Centers for Medicare & Medicaid Services.
If approved, new rates will take effect Jan. 1.