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Several States Approve Higher ACA Premiums

Several state insurance regulators have approved healthcare premium increases higher than those requested by insurers.
October 26, 2016

A USA TODAY analysis indicates that several state insurance regulators have approved healthcare premium increases higher than those requested by insurers. The analysis points out that part of regulators’ responsibilities is ensuring insurers stay solvent so they can continue to give coverage to consumers.

In eight states, regulators approved premiums that were a percentage point or more higher than carriers wanted. Those states are Arizona, Pennsylvania, Colorado, Florida, Georgia, Kansas, Minnesota and Utah. But there are some insurers with premiums that had big drops, including Medical Health Insurance of Ohio, which cut them by about 17 percent.

Maryland Insurance Commissioner Al Redmer, Jr., testified before the House Committee on Oversight and Government Reform in mid-September that although the premium approval process is more transparent than ever, healthcare still is not getting more affordable. “You’re projecting your chances a year and a half in advance. That’s difficult enough, but when you know the federal government will change their rules multiples times within that 18 months that creates more uncertainty,” said Redmer.