Major health insurance providers are requesting premium increases as high as 81 percent for Silver plans offered on Idaho’s Obamacare exchange.
There are five insurance providers currently submitting 2018 proposal on the Idaho exchange, including Blue Cross of Idaho Health Service, Mountain Health Co-Op, PacificSource Health Plans, Regence BlueShield of Idaho, and SelectHealth.
Idaho Obamacare providers are asking for premium increases for Bronze and Gold plans that range from 6 percent to 51 percent, according to the Iowa Department of Insurance.
The insurance companies cite President Donald Trump’s threats to end Obamacare subsidy payments — Cost-Sharing Reductions — that help low-to-moderate income individuals obtain and pay for insurance on the exchanges. (RELATED: Trump Has Another Idea For Ending Obamacare)
“I am deeply disappointed and frustrated to share these rates,” Department Director Dean Cameron said in a statement. “I understand how difficult it will be for Idahoans to afford reasonable coverage, especially those without a subsidy.”
The Idaho Department of Insurance only has the power to determine whether or not the rate increases are reasonable. If the department determines the double digit increases are too exorbitant, it can move to negotiate lower rates with insurance providers — a move the department has successfully made in previous years.
In order to stabilize the marketplace, Cameron is calling on Congress “to either repeal the CSR requirement or fund the program.”
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