OLYMPIA, Wash. – Eight health insurers have been approved to sell health plans in Washington state’s 2020 Exchange, Washington Healthplanfinder, with a record low average rate decrease of -3.27%.
The Washington Health Benefit Exchange Board is scheduled to certify the approved plans at a meeting later today.
“I’m pleased to see the average rate change go down and that many will see lower premiums next year,” said Insurance Commissioner Mike Kreidler. “This comes in the face of continuing efforts by the Trump administration to dismantle the Affordable Care Act with no replacement plan. We still have work to do to lower the underlying cost of health care and to help lower out-of-pocket costs, but these new rates are welcome news.”
One additional Exchange insurer — Providence Health Plan — is still under review. Four insurers — Regence BlueShield, Regence BlueCross BlueShield of Oregon, Asuris Northwest Health and Health Alliance Northwest Health Plan — intend to sell only outside of the Exchange and are also still under review.
How much someone will pay depends on the plan they choose, if they qualify for any financial help, where they live, their age, whether or not they smoke and how many family members are covered, and their family members' age.
Approximately 241,000 people who don’t get coverage from their employer must buy their own health insurance through the individual market, with most shopping through the Exchange. In Washington, 65% of people who buy Exchange plans qualify for subsidies that help lower their monthly premiums.
|Health insurer||Requested average rate change||Approved average rate change|
|Bridgespan Health Company||-1.93%||2.55%|
|Coordinated Care Corp.||10.16%||0.31%|
|Kaiser Foundation Health Plan of the Northwest||5.83%||5.25%|
|Kaiser Foundation Health Plan of Washington||0.40%||-4.33%|
|LifeWise Health Plan of Washington||-5.89%||-4.01%|
|Molina Healthcare of Washington||-6.97%||-9.15%|
|PacificSource Health Plans||New||New|
|Premera Blue Cross||-7.26%||-5.99%|
Total approved average* rate change