SALEM, OR -- Central Oregonians could be in for steep rate hikes if health insurance companies get their way.
Jesse O’Brien, OSPIRG’s Healthcare advocate, says the requests by insurance providers still need to be approved by state regulators. "These are some of the largest rate increase proposals we’ve seen in years," O'Brien says. "Many Central Oregonians get their coverage through Pacific Source, which is requesting an especially large rate increase. This is going to be a period of real concern for Central Oregonians who are going to have to potentially be on the hook for a more than 40 percent rate increase."
Other companies have requested increases for individual plans, ranging from 5 percent with Trillium Community Health, to 38 percent with LifeWise. O’Brien says it’s difficult to determine exactly how much premiums will go up next year. "One thing that complicates this is it will vary depending on the person’s plan, their age and a number of other factors. But for many people, it could be as much as $100 extra dollars a month, or more in some cases. In some cases probably significantly more."
Oregon’s Insurance Division will accept public input on the requests prior to making a final decision July 1. O’Brien says OSPIRG will continue to research the proposals and plans to submit its input to regulators.
The state can accept or deny a rate hike request, or could approve a smaller increase. Learn more about the rate changes health insurance companies are requesting for 2016, and submit public input HERE.
