Health insurance exchange rates in Illinois see steep hikes - WGEM.com: Quincy News, Weather, Sports, and Radio

Health insurance exchange rates in Illinois see steep hikes

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CHICAGO (AP) - Illinois consumers who buy coverage through the Affordable Care Act exchange could see prices increase by as much as 43 percent next year.

The Chicago Tribune reports that several health insurance carriers proposed double-digit increases in rates released Thursday under what's often referred to as the "Obamacare" exchange. Health Alliance Medical Plans, which offered coverage mostly in central and southern Illinois this year, is proposing rate increases of as much as 43 percent.

All three insurers that offer plans in Cook County via the exchange are proposing increases. Blue Cross and Blue Shield of Illinois is proposing an average 38.2 percent increase for its BlueCare Direct plans. The insurer cited increased medical and prescription drug costs.

The proposed rates aren't final and don't include federal subsidies that could lower costs for many people.

U.S. Senator Dick Durbin (D-IL) released the following statement after Illinois health insurers announced that prices on the exchange could increase next year. 

“The White House efforts to sabotage our health care system can be seen in the proposed premium increases under the Affordable Care Act in Illinois next year. President Trump’s tactics are well documented: He issued an Executive Order instructing federal agencies not to enforce the law, cut the open enrollment period in half, and cancelled television and radio ads that educated people about how to enroll for insurance. And President Trump—to this day—refuses to commit to paying cost-sharing reduction subsidies that help keep premiums lower for working families. Don’t just take my word for it: Illinois insurers very clearly indicated that the proposed 2018 premium increases are a direct result of actions being taken by the Trump Administration.

 

“The President should stop obsessing over winning the next political battle and instead join in a bipartisan effort to help Illinois families who are battling their threatened premium increases.”

Information from: Chicago Tribune, http://www.chicagotribune.com

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