In a statement released on Tuesday, Washington Insurance Commissioner Mike Kreidler said 14 health insurance providers have asked for rate increases averaging 7.16% on Washington’s individual health insurance market through which about 223,200 people get their health insurance.
According to the statement, individuals who don’t receive health insurance coverage through their employer can purchase their insurance through the market.
“It’s critical they have choices for meaningful and affordable coverage. Fourteen insurers have filed plans for next year, and while the choices vary depending on where you live, our market is thriving. I know that premiums and cost-sharing are still high for many, especially those who don’t qualify for subsidies, and we need to do more to address the underlying costs drivers of health care,” Kreidler said.
Among the health insurance rate increases requested by insurance companies are a 9.66% increase by Premera Blue Cross, a 13.71% increase by Regence BlueShield and 4.5% increase by Kaiser Foundation Health Plan of Washington.
