Health Insurance Companies Propose Rate Increases for 2022

Ten health insurance companies, including two on the exchange, are proposing an average 8.6% increase over what they proposed in 2021 for the individual market and a 12.9% average increase in the small group market. 

“Working within the authority granted to this department, we will closely examine these filings to make sure the requested rates are consistent with state law,” Insurance Commissioner Andrew Mais said Monday. 

The health insurers told the Insurance Department that COVID-19 and new legislation were having an impact on the proposed rate hikes.