Your Health Insurance Is Set For An Inflation Jump, Even As Inflation Falls
Labyrinthine economics mean that even as U.S. inflation is "broadly retreating," as CNBC reports, health insurance costs are set to tick up in October, and again in following months. The Seattle Times says health insurance rates will jump for "thousands." The Boston Globe warns of rises in Rhode Island.
CNBC:
Why Health Insurance Is Poised To Make Inflation Jump
Inflation is broadly retreating in the U.S. economy. But starting in October, health insurance is poised to act as a countervailing force that buoys inflation for about a year, economists said. That’s significant at a time when policymakers are using inflation data to determine how to set interest rates. (Iacurci, 9/17)
Seattle Times:
Health Insurance Rates Are About To Jump For Thousands Of WA Residents
Health insurance premiums paid by more than 200,000 Washington residents will increase by an average of nearly 9% next year, with some rising by as much as 17.8%. The state Office of the Insurance Commissioner has approved an average increase of 8.94% for 14 health insurers operating in Washington’s individual health insurance market, lower than the 9.11% hike the companies requested earlier this year. (Saldanha, 9/154)
The Boston Globe:
Health Insurance Rates In Rhode Island Are Going Up In 2024
Months after health insurance companies initially requested the state approve steep rate increases in May for 2024, citing higher health care and labor costs, state regulators announced Friday that they have approved increases for the largest companies, but with modifications. Rhode Islanders will save $23.8 million in 2024 compared to what commercial health insurers requested, according to an internal calculation by the Office of the Health Insurance Commissioner, which makes the final decision on how much insurance rates can increase, if at all. (Gagosz, 9/15)
Also —
Wyoming Public Radio:
Mountain West Lags In Income And Health Insurance Coverage
Most of the Mountain West ranks below average when it comes to health insurance coverage and median income, according to recently released Census data. Poverty rates, meanwhile, are largely better than average throughout the region. The Census’ yearly reports on the nation’s social and economic wellbeing made national headlines due to several troubling trends. Child poverty doubled, and median household income fell by 2.3 percent – down to $74,580 per year. Post-tax income inequality also grew. (Walkey, 9/15)
WGCU:
Florida Health Coverage Rate Is Better But Still Lags Most Of The U.S.
With top Florida lawmakers signaling that health care issues could be a priority during next year’s legislative session, a report released Thursday showed that Florida saw improvement in 2022 in people having health insurance — but still trailed most of the country. (Saunders, 9/15)
Modern Healthcare:
Oregon Basic Health Program Planned
Oregon aims to take advantage of a little-used provision of the Affordable Care Act that enables states to establish Basic Health Programs to cover residents who earn too much to qualify for Medicaid. The Oregon Health Authority voted Tuesday to seek approval from the Centers for Medicare and Medicaid Services to join the Basic Health Program. Only Minnesota and New York have such benefits in place—and those predated the Affordable Care Act of 2010—and Kentucky intends to join them in November. (Tepper, 9/15)
Axios:
Sanders' Primary Care Plan Draws Fire
A Bernie Sanders-led plan to fortify primary care and the health care workforce is drawing swift opposition from hospitals — and stirring dissent on the Senate HELP Committee he chairs. (Sullivan, 9/15)
