- Associated Press - Sunday, June 19, 2016

BEND, Oregon (AP) - State regulators are warning that double digit rate increases for most health insurance carriers are on the horizon for 2017.

The Bend Bulletin (https://bit.ly/1tvmADj ) reports that the Oregon Department of Consumer and Business Services released preliminary decisions Friday regarding next year’s premium rate changes.

Health Net requested no rate change for 2017. However, the state says it wants to see a nearly 10 percent rate hike.

According to state officials, rate increases are necessary to keep carrier from withdrawing from the market. For the past few years, rate hikes have been approved because carriers have lost more money on paying out claims than collecting revenue from policy rates.

In 2015, carriers lost $217 million because policy rates were too low to cover the cost of claims.

The state will finalize the rates set July 1.


Information from: The Bulletin, https://www.bendbulletin.com

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