Post by Logan on May 4, 2016 10:22:46 GMT -6
Every Oregon health insurance company but one is proposing double-digit percentage rate hikes for the individual market in 2017, with two of the biggest players -- Moda Health Plans and Providence Health Plans -- both seeking to raise rates by nearly a third.
Seven of the 12 insurers in the small-group market are also seeking increases, albeit smaller than those in the individual market.
It marks the second straight year of sizable increases since implementation of the Affordable Care Act. Oregon health insurers, no longer able to legally reject customers due to pre-existing conditions, have struggled to adjust to life under the act.
"When we did our analysis of the 2015 financial results, we saw that Oregon's seven largest insurers lost $171 million," said Jake Sunderland, spokesman for the Oregon Insurance Division. "That's not an ideal situation."
Moda proposed the biggest individual market hike in the state at 32.3 percent, followed by Oregon's Health Co-op, which is asking for 32 percent. Among the other major players, Kaiser is seeking a 14.5 percent hike and Regence BlueCross Blueshield of Oregon is asking for a 17.9 percent increase.
Read more: www.oregonlive.com/business/index.ssf/2016/05/oregon_health_insurers_seek_do.html
Seven of the 12 insurers in the small-group market are also seeking increases, albeit smaller than those in the individual market.
It marks the second straight year of sizable increases since implementation of the Affordable Care Act. Oregon health insurers, no longer able to legally reject customers due to pre-existing conditions, have struggled to adjust to life under the act.
"When we did our analysis of the 2015 financial results, we saw that Oregon's seven largest insurers lost $171 million," said Jake Sunderland, spokesman for the Oregon Insurance Division. "That's not an ideal situation."
Moda proposed the biggest individual market hike in the state at 32.3 percent, followed by Oregon's Health Co-op, which is asking for 32 percent. Among the other major players, Kaiser is seeking a 14.5 percent hike and Regence BlueCross Blueshield of Oregon is asking for a 17.9 percent increase.
Read more: www.oregonlive.com/business/index.ssf/2016/05/oregon_health_insurers_seek_do.html