Individual Plans
The average rate increase from 1/1/2021 to 1/1/2022 is 1.5% 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 reason for the rate adjustment:
- Medical and drug trend
- Morbidity and demographics are assumed to change in 2022
- 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 average rate change is 9.5%. Members renewing in different quarters will experience different rate changes in 2022.
The following items are the main reason for the rate adjustment:
- Medical and drug trend
- Changes in Demographics
- Changes in ACA taxes and fees