Companies announce increase in health insurance rates for Montan - | News, Weather & Sports in Billings, Montana

Companies announce increase in health insurance rates for Montana

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HELENA, Mont. (AP) - Two companies have revised their health insurance rates for the Montana marketplace after the president ended subsidies for low- to moderate-income policy holders under the Affordable Care Act.
Insurance Commissioner Matt Rosendale says PacificSource will raise its premiums by an average of 13.1 percent, compared to the 7.4 percent submitted when the cost-sharing reduction payments were in place. The Montana Health Co-op increase went from 4 percent to 16.6 percent.
The rate increases affect the silver-level health insurance plans on the individual market.
Rosendale said he was disappointed that the insurers raised their rates. State law allows companies to revise their rates in case of any "material change" to earlier rate filings, as long as the changes are filed at least 60 days before they would take effect.
The new rates go into effect on Jan. 1.

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