Washington State: Approved 2015 rate increase: 1.9% avg. (weighting unclear?)
2018 MIDTERM ELECTION
Time: D H M S
The Washington State Insurance Commissioner just released a chart listing all of the companies operating on the exchange this fall (including 3 new ones, bringing the total to 12), how many plans they're each offering, the requested rate change and the approved ones for most of them.
Unfortunately, they don't include an actual enrollee breakdown, so I can't tell whether this is a weighted or unweighted average. Judging from the numbers provided, it looks like an unweighted average would be just 0.1%, so I'm guessing that the 1.9% mentioned in the press release is weighted, but I'd be more confident of this if they included how many people were enrolled by each company.
(h/t to Josh Z. for pointing out the uncertainty here)
In any event, the original average requested increase was 8.6% (4.8% unweighted), so this is still great news either way.
In addition, the total number of plans has doubled from 46 to 90:
90 health plans approved for next year’s Exchange with a record low 1.9 percent rate change – Exchange Board set to certify plans on Aug. 28
OLYMPIA, Wash. – The Office of the Insurance Commissioner has approved 10 health insurers to sell 90 individual health plans inside Washington’s Exchange, Washington Healthplanfinder next year. The overall approved average rate change is just 1.9 percent, significantly lower than the Exchange insurers’ original request of 8.6 percent.
Also, Kaiser Health Plan of the Northwest (Kaiser) and Moda Health Plan, Inc. (Moda) have been approved to sell 23 health plans inside the Washington Healthplanfinder Business, formerly known as SHOP. Kaiser enrollees will receive an average rate decrease of 3.7 percent and Moda is new to the market and will be available statewide. Kaiser is available only in Clark and Cowlitz counties.
The Washington’s Health Benefit Exchange Board is scheduled to certify the approved insurers and their plans at its Aug. 28 board meeting.
“I take the increased interest from health insurers this year as a clear sign that health reform is working,” said Insurance Commissioner Mike Kreidler. “Consumers will have two more insurers to choose from next year, nearly double the number of health plans, and a record low rate change.”
Last year, eight health insurers were approved to sell 46 plans in the Exchange.
Five health insurers (Asuris, Group Health Options, Regence Blue Shield, Regence Blue Shield of Oregon, and Time) applied to sell coverage only outside of the Exchange. Health Alliance Northwest Health Plan, Inc. applied to sell only inside the Exchange and United Healthcare of Washington, Inc. applied to sell both inside and outside of the Exchange. All of these insurers’ plans and rates are still under review.
The average rate change for the entire individual market will be revised once the approval process is complete.
Company Plans Requested Approved Bridgespan 30 1.7% -2.9% Columbia 3 (new) (new) Community 3 8.4% 0% Coordinated 9 11.2% 2.5% Group Health 5 11.2% 0% Health Alliance -- (new) (under review) Kaiser 8 0.57% -3.7% LifeWise 8 8.9% 2.3% Moda 5 0% (under review) Molina 3 -6.8% 0% Premera 16 8.1% 2.6% United Healthcare -- (new) (under review)