Oregon regulators have approved individual ACA market rate increases that average 21.6% for 2027 coverage.
In the small group market, the state reduced insurers’ proposed average rates from 17% to 15.5%, with some reductions of up to 8%, according to an Aug. 18 news release.
The rate increases reflect continued marketplace uncertainty following the loss of enhanced federal ACA subsidies, heightened medical costs and tariff pressures on durable medical equipment and pharmaceuticals, the agency said.
To help stabilize the market, regulators are budgeting an additional $15 million in reinsurance funds to offset anticipated higher-than-usual claims costs next year. The state’s insurance department also said it would explore capping enrollment for certain plans “to balance consumer choice with marketwide financial stability.”
The reinsurance program lowered rates by an average of 10.7% for 2027, including a 1 percentage point reduction attributable to the additional $15 million. The program has lowered rates for nine consecutive years, and the state said it has requested federal renewal of the program.
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