States Start to Approve Steep Increases in Health Premiums

via Wall Street Journal

Aetna, the nation’s third-largest insurer, said on Aug. 15, that a second-quarter pre-tax loss of $200 million from its individual insurance coverage helped it decide to limit exposure to the health exchanges.
 

WASHINGTON—The first handful of states have released approved 2017 rates for people who buy health insurance on their own and the results so far are consistent with what many expected: There are significant increases in premiums for next year.

The Obama administration, seeking to reassure consumers who could be concerned by increases in more states in the coming weeks, released an analysis showing financial help from the government could soften the blow for people who qualified.

Some insurance regulators have begun announcing their approval of rate increases, including an average jump of 62% for the biggest plan in Tennessee and increases of around 43% in Mississippi and 23% in Kentucky for large carriers.

Read the full article here

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About thebenefitblog

Eric is a Producer at Lockton Insurance Brokers, Inc., the world’s largest privately held commercial broker. Eric has over 23 years of experience in the insurance industry and has spent the last 11 years with Lockton. Eric specializes in Health & Welfare Benefits, Retirement Planning, and Executive Benefits. Eric's clients utilize his expertise in the areas of Plan Due Diligence, Transaction Structure, Fiduciary Oversight, Investment Design, Compliance and Vendor negotiation to improve the operational & financial outcome for each client. The Benefit Blog is a place to share that expertise and industry news.
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