Obamacare plans seek premium hikes of up to 45 percent
CHICAGO — Health insurance premiums for Illinois residents who buy coverage through the Affordable Care Act’s marketplace could increase by as much as 45 percent according to proposals submitted by insurers.
The leading insurer on Illinois’ exchange, Blue Cross Blue Shield, is proposing increases for 2017 ranging from 23 percent to 45 percent for individual health-care plans, according to proposals released Monday.
In a statement, Blue Cross Blue Shield of Illinois said the proposed rates are in line with those in many markets across the country.
Analysts have noted insurers are facing higher medical costs from health law customers, and some companies priced their initial coverage too low in an attempt to grab new business.
More than 12 million people nationwide get coverage though the health law’s markets, which offer subsidized private insurance.