RI – Exchange Plan Rate Increases Approved for 2018
August 2017 ~
The Office of the Health Insurance Commissioner approved health insurance premium rates in Rhode Island for 2018 that include exchange plan rate increases ranging from 5% to 12.1% for 2018.
Rhode Island health insurance commissioner, Marie Ganim, states that in some cases the approved rates were lower than the insurance companies had requested and has estimated that the approved rates will save consumers nearly $17 million.
Rhode Island resident who purchase plans from Blue Cross & Blue Shield of Rhode Island (BCBSRI) on the individual market will see the largest premium hike, while residents with Neighborhood Health Plan of Rhode Island (NHPRI) individual market plans will experience the lowest approved increase in 2018.
The rates approved for 2018 are as follows:
- 2018 Individual (IND) Market Rates
- BCBSRI IND – 12.1%
- NHPRI IND – 5.0%
- 2018 Small Group (SG) Markets
- BCBSRI SG – 7.3%
- NHPRI SG – 6.3%
- TUFTS HMO SG – 0%
- TUFTS PPO SG – 5%
- UNITED HMO SG – 1%
- UNITED PPO SG – 1%
- 2018 Large Group (LG) Rates
- BCBSRI LG – 10.5%
- TUFTS HMO LG – 9.8%
- TUFTS PPO LG – 10.4%
- UNITED LG – 8.0%
Source(s): AP News; Health Management Associates; Blue Cross & Blue Shield of Rhode Island;