Many health insurers have asked insurance regulators for sizable premium increases next year, but final rates are likely to be much lower than the ones requested. Most of the increase is expected to hit the individual market, however, small groups could feel it as well.
On June 1, 2015, HealthCare.gov, the federal website for enrollment in exchange plans, listed all the individual and small-group plans for 2016 that are requesting “significant” rate increases. HHS is expected to try to suppress requests for exorbitant increases (defined as over 10%). Still, it remains to be seen how the carriers will respond to the influx of unhealthy people coming into the system over the past few years.
Read our full June newsletter here.