Washington Health Benefit Exchange Statement: Proposed health premium rate increases for 2024
Olympia
Today, the Washington Office of the Insurance Commissioner (OIC) announced proposed health insurance premium rate increases, including for those plans offered on Washington Healthplanfinder. Washington Health Benefit
Exchange (Exchange) CEO Ingrid Ulrey released the following statement in response to proposed premium increases:
“We are concerned that the proposed substantial increases in monthly premiums could cause financial stress for many who get their insurance through Washington Healthplanfinder.
“This year’s proposed average rate increase of more than 9 percent across the individual market means that our average customer would pay almost $50 more a month in premiums in 2024.
“This would work against the progress we have made in 2023; high-value, low-cost health plans with premiums as low as, or less than, $10 per month for low- and moderate-income Washingtonians are made possible due to federal subsidies and state-level innovation.
“All stakeholders need to work together to sustain the gains in coverage and address underlying health care costs that drive premiums. These proposed rates indicate that some, but not most, carriers are finding ways to contain health care cost growth, a key focus for the Health Care Cost Transparency Board and the Washington Health Alliance, which the Exchange participates in.
“Keeping the cost of individual health plans accessible is particularly important as regular eligibility checks for people on Washington Apple Health (Medicaid) resume and as people who are no longer eligible shop for a plan they can afford on Washington Healthplanfinder.
“We appreciate the rate review process conducted by the Insurance Commissioner and look forward to ongoing partnership across sectors to ensure access to high quality affordable health plans.”
Reminders: Enrollment is offered year-round to individuals and families through Washington Apple Health (Medicaid). Customers enrolled in Apple Health will receive a notice of 60 days before the month they enrolled in or renewed their coverage last year.
About Washington Healthplanfinder
Washington Healthplanfinder is an online marketplace for individuals and families in Washington to compare and enroll in health insurance coverage and gain access to tax credits, reduced cost sharing and public programs such as Medicaid. Open enrollment for Washington Healthplanfinder is from Nov. 1, 2023, to Jan. 15, 2024. Enrollment reports and data are available from Washington Health Benefit Exchange.
About Washington Apple Health
In Washington, Medicaid is called Washington Apple Health. Free or low-cost coverage is available year-round for those who qualify. Since the Affordable Care Act launched in October 2013, more people have access to preventive care, like cancer screenings, treatment for diabetes and high blood pressure, and many other health care services they need to stay healthy. Apple Health clients enroll and renew online using Washington Healthplanfinder. Apple Health is administered by the Washington State Health Care Authority, www.hca.wa.gov