Commissioner Confirms Rate Hikes Due to Trump Administration and Washington Republicans Health Care Sabotage
Washington, D.C. – With final Oregon rate filings for 2019 individual-market health insurance indicating potential double-digit premium increases on top of last year’s 20 percent rate hike due to Washington Republicans’ repeal-and-sabotage agenda, Protect Our Care Campaign Director Brad Woodhouse released the following statement:
“For the past year and a half, President Trump and his Republican allies in Congress have engaged in a deliberate, aggressive campaign to undermine health care and families in Oregon are once again forced to pay the price. Until we stop Republicans’ war on health care, insurance companies will continue to make huge profits and enjoy record tax breaks from Republicans while they charge working families more and more. DC Republicans should start working on bipartisan solutions to make coverage more affordable, instead of helping their friends in the insurance industry make another buck on the backs of hardworking Oregonians.”
From the Insurance Commissioner
“[F]ederal actions […] continue to inject instability into our market,” Oregon Insurance Commissioner Andrew Stolfi said in a statement. “The positive effect of the Oregon Reinsurance Program provides relief for Oregonians and helps reverse some of the rate increases caused by actions at the federal level.” [Oregon DFR, 7/20]
From the Insurance Companies
Regence Blue Cross Blue Shield of Oregon: “Continued Lack Of Funding For Cost Sharing Reduction Plans” And “Expected Reduction In The Size Of The Individual ACA Market” Responsible For Higher Premiums. “These rate changes are necessary due to the increasing cost of medical care, the continued lack of funding for cost sharing reduction plans, and the expected reduction in the size of the Individual ACA market.” [BCBS, 5/14]
BridgeSpan: “Expected Reduction In The Size Of The Individual Market” Driving Higher Premiums. “The main drivers of the rate change are the increasing cost of medical care and the expected reduction in the size of the individual market. This filing reflects projected claim expenses increasing around 8.3% annually.” [BridgeSpan, 5/14]