Insurers Are Looking to Raise Rates for ObamaCare Plans

ObamaCare premium increases will be higher than last year, according to a new analysis of early data. The analysis from the consulting firm Avalere Health finds that proposed ObamaCare premiums for silver-level plans are increasing an average of 16 percent in nine states that so far have complete data. (The Hill)

In Vermont, the proposed 2017 premium increase for the average silver plan that covers a 50-year-old, nonsmoking male is a whopping 44 percent, going up to $685 per month, Avalere said. But in New York state, the average silver plan for that man is expected to rise by just 7 percent, going up to $492 per month. (CNBC)

Highmark has asked the state Insurance Department to increase rates on one of its Affordable Care Act plans by 48.1 percent next year, the highest rate hike sought among health insurers in Pennsylvania. (Pittsburgh Post-Gazette)

Proposals still have to be approved by state regulators, and a full picture of final approved rates across the entire country likely won’t be known until shortly before and state equivalents reopen for the law’s fourth main enrollment window on Nov. 1. Nonetheless, the proposed average increases that are available are a vivid indicator this year of how insurers are adapting to the 2010 Affordable Care Act’s transformation of the way health coverage is priced and sold in the U.S. (The Wall Street Journal)

A survey by the Kaiser Family Foundation out last week found that 45% of people with ObamaCare individual market coverage see their plans as a good value, down from 55% in 2014. As premiums and deductibles continue rising, that number is likely to keep shrinking, even though the survey doesn’t reflect the sentiments of people who turned down the coverage after window shopping or selected a plan and never paid. (Investor’s Business Daily)

Also see:

Survey Shows High Satisfaction with ObamaCare Plans

Highmark Sues Government Over ACA Losses