OIC announces 2023 Exchange Health Insurance Market
The Office of Insurance Commissioner Mike Kreidler, announced the number of insurers allowed to sell plans in Washington State's Health Insurance Exchange for the coming year.
Twelve insurers will be allowed to sell plans on the exchange with the average rate increase at 8.8%. The reasons for the rate increases range from more use to elective procedures that were put off during COVID and now are being scheduled at a faster rate. Also impacting the increases are reimbursements received by the insurers under the Affordable Care Act.
The list of the approved insurers and the approved rate increases are as follows:
| Insurer | Average rate change requested | Average rate change approved | Inside/Outside Exchange, or both |
|---|---|---|---|
| Bridgespan Health Company | 16.10% | 15.68% | Inside |
| Community Health Plan of Washington | New plans | New plans | Inside |
| Coordinated Care Corporation | -1.23% | -3.50% | Inside |
| Kaiser Foundation Health Plan of the Northwest | 3.70% | 5.22% | Both |
| Kaiser Foundation Health Plan of Washington | 4.50% | 6.99% | Both |
| LifeWise Health Plan of Washington | 12.51% | 16.05% | Inside |
| Molina Healthcare of Washington, Inc. | 8.69% | 10.02% | Inside |
| PacificSource Health Plan | 15.41% | 15.48% | Both |
| Premera Blue Cross | 9.66% | 10.08% | Inside |
| Regence BlueCross BlueShield of Oregon | 4.52% | 0.42% | Both |
| Regence BlueShield | 13.71% | 12.83% | Both |
| UnitedHealthcare of Oregon, Inc. | 15.26% | 15.28% | Both |
| Approved average* rate change*Based on weighted enrollment | 7.14% | 8.18% |
There are two other insurers (Asuris Northwest Health and Providence Health plan) awaiting approval from OIC to offer plans outside of the Exchange.
Roughly 219,112 Washingtonians are enrolled in health plans through the individual market. As of June 2021 the State's uninsured rate was 5.2%.
To find which plans are available in your County, because not all are available Statewide, click here.
More From 610 KONA
