Proposed 2016 Premiums Posted on

As required by the ACA, yesterday CMS made public on a list of individual and small group plans in the Federally-facilitated Marketplace that have proposed 2016 rate increases of 10% or more. The list contains hundreds of filings from across the country and reflects wide variation in proposed premium increases, ranging from 10% to 85%. Insurers cite uncertainty regarding healthcare costs, their enrollee mix and the King v. Burwell outcome as reasons for the premium increases, reports the New York Times. The current rate review process offers an opportunity for consumers and other stakeholders to weigh in on the proposed premiums, and while the Obama Administration does not have the authority to reject rate increases, some state regulators do. Final rates, which will be released in October, could differ dramatically from proposed rates.

Connecticut: Marketplace Increases Fees on Insurers

The board of Access Health CT voted to increase the Marketplace insurer assessment from 1.35% to 1.65% in order to build up the organization's existing financial reserves and bring in roughly $36 million in revenue in 2016, compared to the $29.6 million that was earned under the previous rates. Due to the change, insurers will have to revise their rate proposals for 2016 insurance rates, which were filed last month.