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ACA Insurance Premiums Set to Spike in Some States
Fears of health insurance premium hikes during the third year of the Affordable Care Act may not be unfounded. In Tennessee, the state's insurance commissioner just approved BlueCross BlueShield of Tennessee's 36.3% increase.
Fears of health insurance premium hikes during the third year of the Affordable Care Act may not be unfounded. In Tennessee, the state’s insurance commissioner just approved BlueCross BlueShield of Tennessee's 36.3% increase.
According to the Wall Street Journal, several regulators around the country agree with her. Many have already approved big premium increases sought by the largest health plans in their states. Not all states have made their rate decisions yet and some—such as California, which announced increases of just 4%—have approved only modest increases. However, some of the states with lower average premium increases already had high rates to begin with. Tennessee had some of the lowest premiums in the country initially.
In Oregon, Moda Health Plan received approval to increase rates by 25.6%; Health Cooperative in Kentucky was approved to increase rates by 25.1%; and Blue Cross of Idaho Health Service has been approved to increase rates by 23%, on average.
Read the full article from Wall Street Journal: http://on.wsj.com/1EXJwdV
