A new study by the Robert Wood Johnson Foundation revealed that health insurance premiums in Oregon are lower than the national average.
Early this month, health insurers like Moda and Providence requested for rate increases around 30% for next year for the individual marketplace. The Oregon Consumer Department is set to assess the proposed new rates over the next two months before either approving or rejecting them.
Kathy Hempstead, a member of the foundation that conducted the study, explained that insurers operating in the region just want to catch up with national pricing. She also reassured consumers in Oregon that premiums currently remain affordable enough.
“Even though you might have felt like you had sort of a lot of price increase between 2015 and 2016, the Oregon market is still kind of under priced, compared to the national market,” Hempstead remarked.
Roughly 70% of individuals in Oregon who do not have insurance through their employers are eligible for tax credits, reported Oregon Public Broadcasting. The subsidies could prove helpful for when the rates actually increase.
