CONNECTOR OPTS FOR LOWER HEALTH INSURE RATE HIKE OPTION
By Colin A. Young
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, OCT. 12, 2017...The Massachusetts Health Connector will ready a plan of action in the event that the federal government cuts off certain insurance subsidies, but announced Thursday that it will use its standard 2018 rates and not significantly higher rates, as had been contemplated, for a subset of plans it offers.
With uncertainty around federal health care changes looming and the start of an open enrollment period less than three weeks away, the Health Connector and Division of Insurance prepared two sets of rates for 2018 to account for the possibility that the federal government will stop making monthly cost sharing reduction (CSR) payments.
As many as 80,000 consumers who buy their insurance through the Connector could be affected by the decision, and using the standard rates means that those consumers will see average premium increases of 10.5 percent next year. Had the second set of rates been adopted, consumers would have seen an average premium increase of 26.1 percent in 2018.
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