The Montana Insurance Dept. has published the final/approved (unsubsidized) premium rate changes for 2023 in both the individual and small group markets:
Insurance companies offering individual and small group health insurance plans are required to file proposed rates with the Montana State Auditor’s Department of Insurance for review and before plans can be sold to consumers.
What is a rate review?
The rate review process, established by the Montana Legislature in 2013, does not give the Commissioner the authority to disapprove rates or prevent them from taking effect. It does give the commissioner the chance to review the factors insurance companies use in setting rates.
If the commissioner finds a rate increase to be excessive or unjustified, the insurer can voluntarily lower the rate increase. If the insurer decides to use the rate anyway, the commissioner will issue a public finding announcing that the rate is unjustified.
The overall average rate increase for 2023 Indiana individual marketplace plans is 5.7%.
The IDOI will finalize the review of the 2023 ACA compliant filings both on and off the federal Marketplace by August 18, 2022.
The medical trend increase ranges from 5.1-10.2%. This varies depending on networks and experience of each carrier.
The premium averages shown consist of a combination of catastrophic, bronze, silver, gold and platinum plans. The premium is reflected as an average; individuals may experience a rate increase or decrease dependent on the plan selection or auto-enrollment process.
Within each metal level there are numerous plans with various cost sharing methods.
There's been no change to any of the rate filings on the individual market. A few of the small group market carriers were shaved down a bit.
Coronavirus (COVID-19) Update: FDA Authorizes Moderna and Pfizer-BioNTech Bivalent COVID-19 Vaccines for Use as a Booster Dose in Younger Age Groups
Today, the U.S. Food and Drug Administration amended the emergency use authorizations (EUAs) of the Moderna COVID-19 Vaccine, Bivalent and the Pfizer-BioNTech COVID-19 Vaccine, Bivalent to authorize their use as a single booster dose in younger age groups. The Moderna COVID-19 Vaccine, Bivalent is authorized for administration at least two months following completion of primary or booster vaccination in children down to six years of age. The Pfizer-BioNTech COVID-19 Vaccine, Bivalent is authorized for administration at least two months following completion of primary or booster vaccination in children down to five years of age.
The Department of Insurance receives preliminary health plan information for the following year from insurance carriers by June 1 and reviews the proposed plan documents and rates for compliance with Idaho and federal regulations.The Department of Insurance does not have the authority to set or establish insurance rates, but it does have the authority to deem rate increases submitted by insurance companies as reasonable or unreasonable. After the review and negotiation process, the carriers submit their final rate increase information.The public is invited to provide comments on the rate changes. Please send any comments to Idaho Department of Insurance.
DC Announces 2023 Health Insurance Rates; Half of Insurers Decrease Rates after District Review
Washington, DC–Today, the District of Columbia Department of Insurance, Securities and Banking (DISB) announced the 2023 approved individual and small business health insurance rates. As a result of the Department’s review, half of the insurers decreased their initial rate proposals, which will save District residents more than $17 million.
“The Bowser Administration and the Department of Insurance, Securities and Banking are committed to fair rates and non-discriminatory coverage,” said DISB Commissioner Karima M. Woods. “We performed a thorough review of 211 small group plans and 27 individual plans to ensure that they meet the District’s standards and provide non-discriminatory, accessible and affordable health insurance for our residents.”
I can't overstate how much I wish every state was as good as Pennsylvania is at not only making their annual rate filings publicly available on the state insurance dept. website, but doing so in such a clear, simple format, while also including a consistent summary page for every carrier!
As a result of this attention to transparency and detail, I was able to put together my Pennsylvania analysis pretty quickly even though they hae a huge number of carriers on both their individual and small group markets.
Insurance Department Announces 2023 Health Insurance Rates; Highlights More Plan Options And Positive Impact Of Inflation Reduction Act
Harrisburg, PA – Acting Insurance Commissioner Michael Humphreys today announced Pennsylvania's 2023 Individual and Small Group Affordable Care Act (ACA) health insurance rates, highlighting increased marketplace competition for several counties, and how the Inflation Reduction Act and extension of subsidies contributed to lower rates. Pennsylvanians can expect more options and greater competition while shopping for health insurance plans for 2023.
There's two significant changes this year: One new entrant to the individual market (Imperial Insurance) and one major withdrawl...Bright Health Co., which I wrote about earlier today; they had around 19,700 enrollees in the AZ individual market as of a year ago, though I don't know how many are enrolled at the moment.
In any event, Arizona is looking at a weighted average rate increase of 4.3% on the individual market (for unsubsidized enrollees only), and 8.2% on the small group market:
New state savings available for 2023 provide an unprecedented opportunity to get covered Olympia, WA
More than 40% of Washingtonians who get their health insurance through Washington Healthplanfinder could receive brand new state-funded premium subsidies when enrolling in coverage for 2023. To get these new savings — called Cascade Care Savings — customers can newly sign up for, or switch to, a qualifying plan during open enrollment starting Nov. 1.
Building upon high-quality Cascade Care plans introduced in 2021, Cascade Care Savings is for Washingtonians making up to 250% of the federal poverty level (FPL) — generally low-wage and part-time workers. These savings are available exclusively through Cascade Care Silver and Gold plans offered on Washington Healthplanfinder.
ST. PAUL, Minn.—Minnesotans who need health insurance can now shop and compare medical and dental plans for 2023 through MNsure, Minnesota's health insurance marketplace. MNsure's open enrollment period starts November 1 and runs through January 15, 2023, but Minnesotans can use MNsure's plan comparison tool this month to check out their options and get a cost estimate so they are ready to sign up for coverage when open enrollment begins.
"There is great news for Minnesotans shopping for 2023 health coverage through MNsure," said MNsure CEO Nate Clark. "With larger tax credits available for more Minnesotans, we estimate Minnesota families will save an average $560/month ($6,700/year) when they buy coverage and access financial help that's only available through MNsure."
