Health Insurance Companies Ask to Raise Rates in Idaho
BOISE, Idaho (AP) — Health insurance companies are requesting rate increases that average 25 percent more for plans in Idaho for 2016.
Blue Cross of Idaho Health Service has proposed the most rate hikes, averaging out to be nearly 24 percent higher than in 2015. However, some of the insurance company's plans include rate requests 27 to 31 percent higher for individual policies.
Last year, the company's average rate increase for individual policies was about 15 percent. The proposed double-digit requests would apply to plans sold on Idaho's health insurance exchange created under the Affordable Care Act, along with coverage sold through brokers and agents.
The Idaho Department of Insurance is reviewing the requests to determine if they are reasonable. Only rates with increases of 10 percent or higher are submitted to be reviewed.