The report, published Aug. 4, compared proposed premiums from 320 insurers in 50 states.
Most proposed increases ranged from 2 to 10 percent increases, according to the report. Of 320 insurers, 41 proposed premium decreases, and 76 requested increases greater than 10 percent.
The report reviewed a subset of 58 filings that provided detailed information on the reasons for premium increases. Many payers cited inflation as a greater factor for increase than growing medical utilization. Most insurers reported medical cost increases between 7 and 9 percent in 2023.
A few payers cited growing use of expensive GLP-1 drugs for weight-loss and diabetes treatment as a factor contributing to rising. According to the report, some payers expect an influx of ACA enrollees from Medicaid unwinding to increase costs, while most said the effect of growing enrollment on premiums would be neutral.
See the full report here.
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