Information released by the Pennsylvania Insurance Department show that insurers are seeking a statewide average increase of 8.8 percent for individual plans and 6.7 percent for small group plans in 2018.
If lawmakers in Washington, D.C., make changes to the ACA’s individual mandate or the law’s cost-sharing reduction payments, Pennsylvania’s five health insurers serving the individual market likely would need to seek even larger increases, department officials say:
- if cost-sharing reduction payments were not made, they would need to request a statewide average increase of 20.3 percent;
- if the individual mandate is not enforced, they say they would seek a 23.3 percent rate increase; and
- if both changes occur, insurers estimate they would seek an increase of 36.3 percent, assuming they to participate in the market.