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Request for Average Rate Changes of 9.11% in the 2024 Individual Health Insurance Market by 14 Insurers


May 30, 2023

Fourteen health insurers have submitted requests for an average rate increase of 9.11% to Washington’s individual health insurance market, according to an announcement made on May 30, 2023. The proposed plans and their pricing are currently under review, with a final decision expected this fall.

Insurance Commissioner Mike Kreidler stated that about 250,000 people in Washington state have health insurance through the private marketplace, and he is pleased to see competition among insurers. Kreidler added that they would scrutinize the demands and assumptions made by the insurers in the coming months to assess whether the rate changes are justified.

For individuals who don’t have health insurance through their employer, health insurance is purchased from the private market. Income-based subsidies to reduce monthly premiums are available to residents through Washington’s online health insurance marketplace: www.wahealthplanfinder.org.

The estimated 2024 Washington Individual Health Insurance Market Rate Change Proposed Health Insurance Company Request Rate Change On/Off Exchange is as follows:

Asuris Northwest Health: -3.39%

BridgeSpan Health Company External: 15.15% In-Community

Washington State Health Plan: 2.50% Within

Coordinated Care Corporation: 5.24% Within

Northwest Kaiser Foundation Health Plan: 8.81% Both Within

Washington Kaiser Foundation Health Plan: 17.9% Within

Lifewise Health Plan: 7.81% Within

Molina Health Care: 6.41%

PacificSource Health Plan: 7.15% Both

Premera Blue Cross:15.83%

Providence Within Health Plan: 4.69% Outside

Regence BlueCross BlueShield of Oregon: 6.51% Both

Regence BlueShield: 4.54% Both

UnitedHealthcare of Oregon, Inc.: 2.76% Both

The average rate change request is 9.11% based on weighted enrollment %.

By Editor

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