OLYMPIA — Fourteen of the state’s major medical health insurance providers are asking Washington state regulators to approve a median 7.16% increase in medical health insurance premiums in Washington for 2023, based on a press release from the Washington state Office of the Insurance Commissioner.
The increases are being looked for individual medical health insurance purchased each on the state’s medical health insurance exchange and outdoors the exchange, and never on medical health insurance plans provided through employers. In response to OIC, roughly 223000 Washington residents are paying for individual health care through the state’s exchange, which was established as a part of the Reasonably priced Care Act passed by Congress and signed into law by then-President Barack Obama in 2010.
In response to the discharge, the biggest increase is being sought by Utah-based BridgeSpan Health Company, which is searching for a 16.10% rate increase. Nevertheless, BridgeSpan Health doesn’t provide insurance coverage to residents in Grant and Adams counties, based on OIC.
Inside Grant and Adams counties, Coordinated Care Corporation — which also provides health care coverage under the state’s expanded Medicaid program — is asking regulators to approve a 1.23% decrease in premiums charged on individual medical health insurance policies in 2023, based on OIC, while LifeWise Health Plan of Washington is searching for a 12.51% increase on plans issued on the exchange (the corporate doesn’t sell plans outside the exchange) and Asuris Northwest Health is searching for at 10.93% increase in medical health insurance premiums (the corporate only offers insurance policy outside the exchange).
For more information on obtaining individual medical health insurance coverage through the state’s exchange, visit www.wahealthplanfinder.org.