Idaho’s health insurers say they’re asking for steep rate hikes for coverage next year because of uncertainty from the federal government.
On average, rates among the four insurers that sell plans on the Idaho-based health exchange are proposed to go up 38 percent. However, SelectHealth of Idaho is seeking the highest overall rate increase with a 44 percent price spike to their plans.
Meanwhile, insurance companies want to increase the cost of the exchange’s most popular plan – known as the silver plan – on average by 50 percent.
The state’s Department of Insurance released the proposed rates on Monday. Insurers will now spend the next few months negotiating the finalized rates with the department.
Director Dean Cameron says he’s deeply disappointed by the rate increases and blamed the double-digit hikes on threats from the federal government to stop funding key aspects of the Affordable Care Act.