[ad_1]
September 14, 2022
OLYMPIA, Wash. – Twelve health insurers are authorized to sell plans in Washington’s 2023 exchange health insurance marketplace. Average price increase is 8.8%. Plans from two additional health insurers (Assuris Northwest Health and Providence Health Plan) are being evaluated for sale off the exchange.
Key drivers behind this year’s premium changes have been increased utilization, including demand for elective surgery and changes in what insurers pay under the Affordable Care Act’s risk adjustment program. This program stabilizes the market by spreading financial risk across all insurers. It requires federal funds to be redistributed from plans with low-risk enrollees to plans with high-risk enrollees. Insurers must take these amounts into account when submitting their claims in June, and the amounts will be adjusted after the final calculations are made at the end of the summer.
“More than 200,000 people in Washington state get their health coverage through the private market,” said Insurance Commissioner Mike Kreidler. “It’s important that they have choices for meaningful and affordable coverage, and I’m happy to see our market doing so well. Recognize that premiums and cost-sharing are still high for many, especially those who do not qualify for subsidies, and that we must do more to address the underlying costs of health care.
People who do not have health insurance coverage from their employer shop for insurance in the individual market. Premium subsidies are available, based on Washington Exchange earnings; Wahealthplanfinder.org. Additional grants are available in The Federal Reserve Bank of America Act of 2021 And last year, it helped more than 60,000 people get coverage. This grant will continue until 2025 due to the recent transfer Federal Inflation Reduction Act.
In Washington, approximately 219,112 people are enrolled in a health plan through the individual market. In the year As of June 2021, Washington’s uninsured rate was 5.2 percent.
View approved exchange health insurers and plans by county (PDF, 192.41KB).
Insurer | The average price change is requested | Average rate change approved | Internal/external exchange, or both |
|---|---|---|---|
Bridgespan Health Company | 16.10% | 15.68% | in |
Community Health Plan of Washington | New plans | New plans | in |
Integrated Care Corporation | -1.23% | -3.50% | in |
Kaiser Foundation Health Plan of the Northwest | 3.70% | 5.22% | Both |
Kaiser Foundation Health Plan of Washington | 4.50% | 6.99% | Both |
Art of Washington Health Plan | 12.51% | 16.05% | in |
Molina Healthcare Washington, Inc. | 8.69% | 10.02% | in |
Pacific Source Health Plan | 15.41% | 15.48% | Both |
Blue cross diameter | 9.66% | 10.08% | in |
Regence BlueCross BlueShield of Oregon | 4.52% | 0.42% | Both |
Regence BlueShield | 13.71% | 12.83% | Both |
United Health Care of Oregon, Inc. | 15.26% | 15.28% | Both |
Approved Average* Rate Change *Based on weight registration | 7.14% | 8.18% |
[ad_2]
Source link
