2015 HIX Premium Hikes May Top 7%
Average 2015 premium rate increases on the new health insurance exchanges are likely to stand in the high single digits, according to data collected from half the states.
>>>PwC State Exchanges Map
Nationwide, increases in proposed 2015 premium rates in the individual health insurance market, which includes the new public exchanges, are trending between 7 percent and 8 percent, according to data collected by New York-based PricewaterhouseCoopers LLC.
"It seems to be staying in that single-digit range," Caitlin Sweany, senior manager at PwC's Health Research Institute, said on Thursday. "We've [analyzed] several iterations of this data."
PwC is tracking the release of public data on proposed 2015 individual premium rates and has highlighted the information with an interactive map. As of Thursday, the consultancy had reported data from 24 states and the District of Columbia, with the aggregate average proposed premium increase pegged at 7.5 percent.
State regulators will announce the actual 2015 individual insurance premium rates by the fall.
Most Americans, about 165 million, get health insurance through employer-sponsored group plans. With 8 million lives enrolled in the new Patient Protection and Affordable Care Act-spawned exchanges, the individual market is now in a state of HIX domination.
"The individual market in most states is pretty much what's on the exchange," Sweany said.