Individual Plans
The average rate increase from 1/1/2019 to 1/1/2020 is 8.2% based on the plans that are considered to have uniform modifications of coverage according to 45 CFR 147.106.
The following items are the main reasons for the rate adjustment:
- Medical and drug trend
- Morbidity and demographics are assumed to change in 2020
- ACA taxes and fees are different
- Some benefit plans have been modified
- Some plans have been eliminated and new plans have been introduced.
- New agreements with providers for HMO plans
Small Group Plans
The overall annual average rate change is 6.6%. Members renewing in different quarters will experience different rate changes in 2020.
The following items are the main reasons for the rate adjustment:
- Medical and drug trend
- ACA taxes and fees changes
- Morbidity change in 2020
- Some plans have been eliminated and new plans have been introduced