Our mission is to help people in our communities live healthier and more secure lives through access to high quality, affordable care.
Late spring is when we propose to state regulators the individual and small group rates we need to charge for our products, effective the following January. It’s also when we find out how we compare with all other insurers in the state.
The rate increases we requested for 2020 were considerably smaller than the average of all other insurers. A significant share of those rate increases is due to the re-imposition of a federal health care tax. Without that tax, our increases would have been significantly less for both individuals and small groups.
The chart below shows that for three years running, our proposed rates are consistently and considerably lower than the average rate requests statewide. Our track record of modest rate changes is a further indication of our commitment to controlling health care costs and our own business expenses.