Illinois insurers seek rate increases for individual health plans

Insurers in Illinois next year will seek notable rate increases for some of their individual health plans, according to preliminary filings.

Blue Cross and Blue Shield of Illinois proposed rate increases on three of its four individual product lines on the Affordable Care Act exchange. Its rate changes range from a 3.4 percent decrease on its BlueCare Direct plan to a 7.6 percent increase on its BlueChoice Preferred plan.

Blue Cross spokesman Dave Van de Walle said the preliminary rates “reflect our stability” and are among the lowest in the state.

“For 2023, we’re demonstrating our commitment to expanding access to quality, cost-effective healthcare by again offering individual and family plans across every county in Illinois with options to meet many needs and budgets,” he said.

Insurers said the financial impact and uncertainty from COVID-19 played a role in the rising rates.

“While we are committed to continuing to provide the highest quality products at an affordable price, we have had to increase our premiums to offset the increased costs of healthcare claims during a protracted global pandemic and position Quartz, our members and our provider partners for long-term success,” said Quartz CEO Dr. Mark Selna, whose group is asking for a nearly 11.8 percent rate increase for its lone plan.

Centene’s Celtic Insurance Company plans a double-digit increase on all four of its products, ranging from 11.4 percent to 14.1 percent.

“We look forward to offering affordable, competitively-priced options for quality healthcare,” Ambetter, a subsidiary of Centene, said in a statement. “We will share more information about our 2023 plan offerings upon securing all necessary regulatory approvals.”

Per the rate review website:

• Health Alliance Medical Plans: 6.8 percent increase, with one product seeing a 2 percent increase and the other a 6.8 percent increase.
• MercyCare HMO: 7.8 percent rate increase.
• Cigna: 3.3 percent rate increase.
• Molina Healthcare of Illinois: 4.2 percent rate increase, with one product seeing a 3 percent increase and the other a 6.8 percent jump.
• Oscar Health Plan: 9.2 percent rate increase, with one product going up by 2.6 percent and the other by 9.4 percent.
• SSM Health Plan: 11.4 percent rate increase.
• UnitedHealthcare of Illinois: 15.9 percent rate increase.

Plans could change if Congress acts to extend enhanced subsidies available under the American Rescue Plan Act that are set to expire at the end of the year. Pending legislation in the Senate would extend the subsidies, which boost aid available under the Affordable Care Act and apply to all income levels, by an additional three years.