ACA Rate Change Season Upon Us
State if VA Insurers Forecast Big Price Jumps – Other States In Same Fix
Initial filings from several insurers aiming to participate on the state’s ACA marketplace in 2019 show double-digit rate hikes.
According to Documents Filed with Virginia Regulators:
– CareFirst Blue Cross Blue Shield is forecasting an average 26.6 percent boost that would affect about 8,400 enrollees.
– Company subsidiary Group Hospitalization and Medical Services filed rates seeking an average 64.3 percent rate increase for another 4,500 people.
– Other plans include Cigna, which is asking regulators for a 15 percent increase impacting roughly 103,000 enrollees.
– Kaiser Foundation Health Plan of the Mid-Atlantic, which is eyeing a 32.1 percent bump.
Not All Proposed Price Changes Are Rising:
– Anthem wants to boost rates on average only by 5.6 percent
– Optima Health Plan wants a 1.9 percent decrease.
But the initial glimpse of premium increases is predictably prompting jockeying that will continue throughout the summer and fall as officials finalize next year’s prices.
Unlike prior years, officials are arguing about several actions that will destabilize insurance markets. Both sides stand by their existing positions.
Result: At this time a resolution about healthcare in America remains foggy.
Source: Pulse Politico