Oregon consumers can now get a first look at proposed rates for 2017 individual and small employer health insurance plans.
Health insurance companies submitted rate requests to the Department of Consumer and Business Services, Division of Financial Regulation on May 2. The division must review and approve any rates before they can be charged to policyholders.
“For the next two months, we will analyze the requested rates to ensure they adequately cover costs without being too high or too low,” said Insurance Commissioner Laura Cali. “Our open process allows Oregonians to see everything we do and provide comments on the filings that affect them.”
The proposed rates are for plans that comply with the Affordable Care Act for small businesses and individuals who buy their own coverage rather than getting it through an employer.
In the individual market, 10 companies submitted average rate change requests ranging from 0 percent to a 32.3 percent increase. In the small group market, 12 companies submitted average rate requests ranging from a 5 percent decrease to a 17 percent increase. See the attached chart for the full list of rate requests.
Starting May 6, Oregonians will be able to search rate filings and submit comments at oregonhealthrates.org. Once scheduled, hearing information will be posted to this website.
Oregonians are encouraged to comment on rate change requests during the public comment period, which is open May 6 through June 24. The public can submit comments online and during public rate hearings.
Preliminary decisions will be announced June 16, and final decisions will be released July 1.
Proposed Rates:
http://www.flashalertnewswire.net/images/news/2016-05/1073/94093/2017_Proposed_Average_Health_Insurance_Rate_Requests.pdf
The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon’s largest business regulatory and consumer protection agency. Visit dcbs.oregon.gov and dfr.oregon.gov.
Jake Sunderland, 503-947-7897
Jake.W.Sunderland@oregon.gov
