Health insurance company news from across the web for June 2016. This post will typically updated daily with news articles from the day. So stop back often to find out what is new related to health insurers, and the health insurance marketplace.
In May, many of the news stories related to insurers rate inc. requests for 2017. This month there will probably be many of the same articles as well as commentary on a national level.
2017 North Carolina rate requests. As mentioned yesterday, BCBSNC is requesting an avg. increase of 18.8%. In addition Aetna is looking for 24.5% on avg. and Cigna plans on joining NC marketplace in 6 counties.
UnitedHealth confirms exit from Illinois Insurance Exchange. United will offer on-exchange plans in only three states in 2017: NY, VA, and NV.
Did Obama bail out health insurers improperly with Billions of taxpayer dollars? Speculation that Obama circumvented the law in order to bail out health insurance companies and make Obamacare look better, and keep premium increases in check.
UnitedHealth confirms exit from California Insurance exchange. United is pulling out of California’s individual health insurance marketplace in 2017 including Covered California as well as policies sold outside of the state insurance exchange. They had just joined the California exchange in 2016.
Steep rate hikes on the way for Oklahoma residents. Blue Cross Blue Shield of Oklahoma, the only confirmed insurance exchange participant in Oklahoma has requested rate increases ranging from 49.77% to 51.65%. Ouch!
BCBS Texas requests rate increases of nearly 60%. The states largest health insurance carrier has requested rate increases between 57-59%. The hike could affect almost 603,000 Texans.
Louisiana Obamacare rate increase requests range from 16% to 30%+ for 2017. BCBS Louisiana seeking increases ranging from 20.5% to 28.3%, affecting 134,000 members.
Indiana individual health insurance rates to climb across state in 2017. Anthem requesting 29% increase on average. However, a recent analysis by Avalere Health of 9 states found that anticipated Indiana rate increases to be on the low end.
BCBSNC suing Federal Gov’t for $130M. Blue Cross Blue Shield of NC is suing the Federal Gov’t for shorting the company on risk corridor payments for 2014, and anticipates the gov’t will owe them another $175M for 2015 payment shortfall. Two other companies have filed similar suits, including Pittsburgh based Highmark Blue Cross.
Rhode Island requested Individual health rate increases relatively modest. Blue Cross Blue Shield RI has requested 9% inc. on avg. while Neighborhood Health Plan has requested a 5% decrease.
Nevada 2017 rate requests are in. Weighted avg. based on enrollment ~15%.
Delaware 2017 rate requests are in. Weighted avg. ~30%. Dominant health insurance company BCBS Delaware requesting 32.5% avg increase
Arkansas 2017 rate requests are in. Weighted avg. ~15%. Arkansas Blue Cross Blue Shield with 70% marketshare requesting 14.7%
Rate requests for 26 states + DC are in, representing 65% of US population. According to ACASignups.net. The weighted avg. requested premium increase based on this footprint is ~20%. Remember: These are rate requests and not approved rates. However, it is clear that health insurance shoppers can expect more significant increases than they have experienced in the past.
Colorado 2017 individual health insurance rate requests. 2017 rate requests seem to be substantial in Colorado. Anthem BCBS is asking for ~27% on avg., and Golden Rule 40+%. More than 450,000 in Colorado by individual health plans (or 7% of population).
Connecticut 2017 rate requests. 14 Companies have filed 2017 rate requests. Premium increases range from 2.1% to 32%. Anthem — the health insurance company covering the most lives among on-exchange plans — has requested 26.8% on avg.
6/13 Update: (updates from past week)
California moves towards extending health insurance to undocumented residents. Governor Jerry Brown signed a bill into law allowing undocumented immigrants to purchase Obamacare plans on the Covered California insurance exchange. This would provide access to 390,000 Californians or 7% of state population.
Fund for musicians who cant afford health insurance. Non-profit, Music Health Alliance, is looking to set up a premium assistance find to help people in the industry who may not qualify for Obamacare tax credits.
Proposed 2017 Oregon health insurance premiums. 10 Health insurers filed proposed rate increases for individual health plans. Average increases range from 32%+ for Moda Health Plan to 0% for Health Net.
Proposed ’17 rate increases in Idaho avg 27%. Not unlike other proposed rate increases for 2017, Idaho health insurers seeking 27% increase on avg.
BCBS Tennessee seeking 62% rate increase!. Other requests for Tennessee include Cigna 23% (avg.) and Humana 29% (avg.). BCBS Tennessee has nearly 70% marketshare. Many Tennessee will experience significant sticker shock.
Six AZ health insurers file ’17 rate increase requests. Blue Cross Blue Shield of AZ with 43% marketshare (and only carrier covering all counties in the state is requesting largest increase.
Alabama to scrutinize health insurer rate requests for the first time. BCBS Alabama is only carrier participating on-exchange in ’17. And the request should be high since they claim losing $135M on Obamacare Plans in 2015.
Proposed Federal rule regulating short term plans squeezes health insurance innovations. A Federal rule proposed by CMS limiting the duration and renewability of short term health plans will pose a large problem for companies focusing on those niche plans.
Great analysis by KFF.org on premium changes and insurer participation. In 14 markets analyzed the premiums for the lowest cost silver plan is set to increase by 11% in 2017
As mentioned above, stop back often as new health insurance company news stories will be added daily.
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