New Jersey: *Final* avg. unsubsidized 2024 #ACA rate changes: +4.4%
In August I posted the average rate changes being requested for 2024 by New Jersey insurance carriers on the individual & small group markets; it came in at ~6.6% for the indy market and 12.2% for the small group market...but those was unweighted by carrier market share.
Yesterday, with the launch of the 2024 Open Enrollment Period, the New Jersey Insurance Dept. has posted the final/approved rate filings...and while they don't appear to have made any changes to the preliminary requested rate changes, they do include the overall weighted rate increases (unfortunately I still don't know how many enrollees each carrier has).
The weighted rate hikes are just 4.4% on the individual market and 7.3% for small group plans. It's also worth noting that UnitedHealthcare is newly joining the NJ individual market: