BOISE — The Idaho Department of Insurance has released the final 2019 premium rates for individual and small group health insurance plans. Individual plans will increase by an average of 5 percent, a significant reversal in the double-digit rate increases Idahoans faced the past three years.
Increases for bronze and silver plans remain the lowest, while rates for catastrophic plans will be the highest. The adjustments and justifications for each carrier can be viewed at https://doi.idaho.gov/consumer/RateReview/.
Open enrollment for 2019 begins Nov. 1, and those seeking coverage can visit the state’s insurance exchange — Your Health Idaho — at yourhealthidaho.org/. Four carriers are offering a total of 293 plans, including three carriers providing coverage statewide. Some consumers utilizing Your Health Idaho may be eligible for assistance covering premiums, out-of-pocket costs and deductibles.
Rate increase proposals are based on claims experience, premiums, network provider agreements and other costs.
The Department recommends consumers work with a licensed agent to help evaluate the various plan options.