Idaho Health Insurance Rates Going Up
BOISE, Idaho (AP) — Idaho officials have released the final rate increases for health insurance plans in Idaho for 2016.
Blue Cross of Idaho Health Service has the most rate hikes, averaging out to be 23 percent higher than in 2015. Company officials say the increase is needed after losing millions of dollars because current customer premiums are not keeping up with claims paid. Last year, the company's average rate increase for individual policies was about 15 percent.
The double-digit increases will apply to plans sold on Idaho's health insurance exchange created under the Affordable Care Act, along with coverage sold through brokers and agents. Idaho Department of Insurance Director Dean Cameron says the agency did not find any proposed rate changes to be unreasonable. Only rates with increases higher than 10 percent were reviewed