Payers will raise rates an average of 10% in 2023 as healthcare usage rises

As healthcare utilization returns to pre-pandemic levels, payers are increasing rates by an average of 10 percent next year across the country, according to MarketWatch.

The increased average was determined through a rate filing review by the Kaiser Family Foundation of 72 payers in Georgia, Indiana, Iowa, Kentucky, Maryland, Michigan, Minnesota, New York, Oregon, Rhode Island, Texas, Vermont, Washington and Washington, D.C. Rate hike requests ranged from five percent to 14 percent.

In California specifically, 1.7 million people covered under plans on the state's marketplace, Covered California, will see rates increase on average from one percent to six percent. Four percent of that jump is due to increased healthcare usage, and half a percentage point is because of uncertainty around whether federal ACA premium tax credits will be renewed.

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