More increases in health insurance premium rates may be on the horizon, Georgia Health News reports.
There are four insurers that are currently on the Georgia insurance exchange market: Blue Cross and Blue Shield of Georgia, Ambetter of Peach State, Alliant and the Kaiser Foundation Health Plan of Georgia.
Each company has already asked to increase the 2017 premium rates for the 2018 year. The numbers range from a 40 percent increase to a 12.4 percent increase. These were the initial rate hikes requested earlier this year. But the Georgia Department of Insurance stated this week that the insurers have requested to increase rates again – though no revised numbers have yet been reported.
The Georgia State Insurance commissioner, Ralph Hudgens, must approve the insurance premium rates. And so must federal officials. September 27 is the lock-in date for the insurers to decide what their final rate increase requests will be.
The insurance exchange market was established under the Affordable Care Act.
In 2017 about 500,000 Georgia residents signed up for health insurance on the state exchange.