Health Insurers Seek Sharp Rate Increases in 2016

Newly insured consumers under the Affordable Care Act have turned out to be sicker than initially estimated, according to health insurance companies, who are seeking rate increases of at least 20% to 40%, reported the New York Times.

Blue Cross and Blue Shield plans in Minnesota are seeking rate increases that average as much as 54%, according to documents from the federal government and state insurance companies. However, it is important to note that whether these rate increases will hold up on review is far from certain and they could change.

In Oregon, the rate increases for 2016 will be bigger than they have been for years, which will affect consumers profoundly, according to the Oregon State Public Interest Research Group.

Read more at New York Times: http://nyti.ms/1gic5gs