Washington’s individual insurers seek average 7.16% rate hike for 2023

Fourteen health insurers are requesting an average rate increase of 7.16 percent for Washington’s individual health insurance market in 2023. 

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The plans and proposed rates are currently under review, and a final decision will be made in the fall, according to a May 31 news release from the Washington insurance commissioner’s office. 

“I know that premiums and cost-sharing are still high for many, especially those who don’t qualify for subsidies, and we need to do more to address the underlying costs drivers of healthcare,” insurance commissioner Mike Kreidler said in the news release. 

About 223,202 Washington residents are enrolled in health plans through the individual market, according to the news release. 

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