SALEM — Oregon consumers can get a first look at requested rates for 2020 individual and small group health insurance plans.
In the individual market, seven companies submitted rate change requests ranging from an average 3.2% decrease to an average 13.5% increase, for an average of 3.3%. In the small group market, nine companies submitted rate change requests ranging from an average 0.3% decrease to an average 13.1% increase, for an average of 8.7%.
“It’s early in the process, but we are encouraged to see carriers providing more options to Oregonians by expanding into both rural and coastal communities, and the market stabilizing in spite of uncertainty at the federal level,” said Insurance Commissioner Andrew Stolfi. “Now it is time to start our open and thorough review process that allows Oregonians to provide input on the filings that affect them.”
Health insurance companies submitted rate requests to the Department of Consumer and Business Services, Division of Financial Regulation on May 13. Over the next two months, the division will analyze the requested rates to ensure they adequately cover Oregonians’ health care costs. The division must review and approve rates before they are charged to policyholders.
Later this month, Oregonians will be able to compare their health plans and submit comments at oregonhealthrates.org. Public hearing dates will also be posted to the site.