Rate Increase Notice

Individual Plans

The average rate increase from 1/1/2023 to 1/1/2024 is 6.3% 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 demographic changes
  • ACA taxes and fees are different
  • Some benefit plans have been modified
  • Some plans have been eliminated and new plans have been introduced.
  • Changes to provider contracting agreements

Small Group ACA Plans

The overall average rate change is 15.6%. Members renewing in different quarters will experience different rate changes in 2024. The following items are the main reason for the rate adjustment:

  • Medical and drug trend
  • Morbidity and demographic changes
  • Changes to our drug rebates