Ore. premium rates for 2015 indicate smaller price spread
Oregon will see a much tighter range of premium prices in 2015 for individual and small employer health insurance plans, according to new rates announced by state regulators.
The Oregon Insurance Division says Moda Health, the company that captured nearly two-thirds of the individual market with some of the lowest prices in 2014, will see a 10.6% rate increase on average. The increase places the company in the middle of the pack in terms of premium prices and will affect more than 70,000 Moda enrollees.
Some of the smaller carriers will see rate decreases in 2015. Plans from Providence Health & Services and Trillium Community Health will both drop by about 14% on average, for example.
Overall, lower premiums will increase and higher premiums will decrease as a result of the new rates, Insurance Commissioner Laura Cali said, meaning that premium prices are converging in the middle, creating a smaller price range.
The rate information comes a few months ahead of the next open-enrollment period when customers can switch carriers, from Nov. 15 to Feb. 15.
Oregon officials say the rates are, at best, a starting point for consumers.