One of the largest insurers in Indiana, Anthem, looks to raise its premium costs an average of 29 percent, according to The News & Observer. Anthem currently provides individual health plans for approximately 100,000 people in the state. The insurer has proposed premium hikes ranging from nearly 20 percent to 41 percent for coverage offered through the Affordable Care Act exchanges.
Insurers such as Care Source Indiana, Physicians Health Plan of Northern Indiana, MDwise Marketplace and IU Health Plans are pursuing premium increases ranging from 10 to 25 percent.
Some individuals will receive subsidies. However, small business owners, individuals who do not qualify for their spouse’s insurance, early retirees and others unqualified for the subsidies will be required to pay premiums in full, according to The News & Observer. The proposed rate increases may double their expenses.
The state has until Aug. 23 to approve the increases.
More articles on payer issues:
Ark. governor requests federally supported state-based healthcare marketplace for individuals
Bon Secours launches insurance network
BCBS of North Carolina raises rates after $282M loss on ACA customers
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