DOI releases preliminary health insurance rates for 2023

BOISE, Idaho (KIFI) – The Idaho Department of Insurance (DOI) has received preliminary health insurance premium rates from health insurance companies for plans sold beginning in January 2023. The DOI is seeking public comment before rates are released. definitive.

The DOI is reviewing health insurance company health insurance premium rate submissions for next year’s individual and small group plans. These proposed health insurance premium rates are published on the DOI website HERE. The proposed average premium change per metal level, corresponding 2023 rates per plan, and carrier explanations for the changes are made public for comment. The DOI only has the power to determine “unreasonable” tariffs if the requests are not sufficiently substantiated. Final rates will be publicly available on October 1, 2022, at the same web address.

“We would like to thank Governor Brad Little for providing funding — and the Legislature for approving his recommendation — to seek the 1332 waiver,” said Director Dean L. Cameron, referring to the “Reinsurance Waiver” of state innovation that will reduce the cost. market individual health insurance by offsetting the premium impact of high-cost health conditions. The proposed effective date for the waiver is January 1, 2023. “While not formally approved, the result is that average individual adjustment rates are 9% lower than they would have been without this funding.”

Comments, questions or ideas can be submitted via the online form at https://doi.idaho.gov/contact-doi/?id=285 or by post to the following address:

Comments on 2023 rates
Idaho Department of Insurance
Box 83720
Boise ID 83720-0043

The DOI encourages consumers to carefully review all of their options with a licensed insurance agent once final rates are released.

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