Individual health plan premiums rise an average 24% in Idaho

The Idaho Department of Insurance released premium rate increases for 2017 for individual and small group health plans, with individual plans offered through the state's Affordable Care Act exchange increasing an average of 24 percent.

Board directors of Idaho's ACA exchange — Your Health Idaho — approved five health insurers to sell 225 plans on the exchange next year.

"The rate increases are definitely greater than we would like, and we were able to work with the carriers to reduce some of the rate increases. However, the claims costs continue to be much greater than the carriers originally expected, which is a key driver of the rate increases," Dean Cameron, director of Idaho's insurance department, said in a prepared statement.

Five health insurers will offer on-exchange, individual plans with the following approved average premium increases.

  • Blue Cross of Idaho — 19 percent
  • BridgeSpan Health — 23 percent
  • Mountain Health CO-OP — 29 percent
  • PacificSource Health Plans — 15 percent
  • SelectHealth — 29 percent

Small group plans will rise an average of 4 percent next year.  

More articles about payer issues:
Zoom+ health plan exits Oregon's ACA exchange
House Republicans warn against settling risk corridor payment suits
10 payers in the headlines

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers