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News / Northwest

Washington individual health insurance market customers could face average rate increase of 9.1%

By The Olympian
Published: May 30, 2023, 6:08pm

OLYMPIA — Fourteen health insurers have filed for an average requested rate increase of 9.1 percent for Washington’s individual health insurance market, according to the Office of the Insurance Commissioner.

The proposed plans and their rates are under review and final decisions will be made this fall, the OIC reports.

“Nearly 250,000 people in Washington state get their health coverage through our individual market,” Insurance Commissioner Mike Kreidler said in a statement. “I’m pleased that so many insurers are filing plans again and to see such healthy competition. Now, we’ll spend the next few months closely reviewing the companies’ requests and the assumptions they’re making to be sure any rate change is justified.”

People who do not get health insurance from their employer shop for health plans on the individual market. Financial subsidies that help lower monthly premiums are available, based on income, through Washington’s online health insurance marketplace, www.wahealthplanfinder.org.

The rate increase requests are wide ranging, but three companies had the highest rate requests:

* Kaiser Foundation Health Plan of Washington, 17.9 percent.

* Premera Blue Cross, 15.8 percent.

* BridgeSpan Health Company, 15.15 percent.