RICHMOND, Va. (AP) — Health insurance rates for Virginia individuals under the Affordable Care Act are expected to increase next year.
The Richmond Times-Dispatch reports numbers insurance companies presented Tuesday to the State Corporation Commission say rates in the individual market are estimated to rise by an average of roughly 13 percent. The increase is not as much as the 69 percent experienced this year but is enough to raise the average premium by almost $100 to around $830.
Rates in the small group market are estimated to increase by nearly 8 percent.
The individual market’s participation rates also are expected to decline in 2019, as they have for the past three years. Virginia Association of Health Plans director Doug Gray says one major problem is rising rates have driven participants ineligible for subsidies out of the market.
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Information from: Richmond Times-Dispatch, http://www.richmond.com
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