Insurance Details

onHarrisburg, PA – Acting Pennsylvania Insurance Commissioner Michael Humphreys today released the 2023 request to comply with insurance plans under the Affordable Care Act. As written, 2023 will see more competition and more choices for consumers in other states. Both individual and small group requests will result in an increase in the national average.

“As we navigate the aftermath of the COVID-19 pandemic, Pennsylvania continues to have a strong and competitive insurance market,” Humphreys said. “Increasing options and plans will give Pennsylvanians the opportunity to buy better ways to provide for themselves and their families.”

Insurers who offer plans in the individual market offered plans asking for a national increase of 7.1 percent. Insurers selling in the small group market in Pennsylvania filed plans asking for a statewide increase of 5.2 percent.

Similar to other states’ policies, insurers say this can increase due to a number of factors including but not limited to:

As of this writing, of the 67 counties in Pennsylvania, no county will lose exchange insurance. For Plan Year 2023, within the same market, one area will get a new insurance exchange. Ambetter (from PA Health & Wellness) will enter the Berks County private market for Plan Year 2023. In the small group market, five counties got new insurance. Cigna + Oscar enters the small group market in Bucks, Chester, Delaware, Montgomery, and Philadelphia.

Looking ahead to 2023, each county in Pennsylvania will have more than one insurer in the individual marketplace and more than one insurer. This is in line with Plan Year 2022, when increased competition between several insurers has given consumers more options to make the best decision for people, and families.

The federal American Rescue Plan’s financial aid program saw Pennsylvania’s premiums drop by 9 percent. Many families who believe that comprehensive health care is unaffordable, are able to purchase plans that provide quality care thanks to ARPA’s support. However, if these subsidies are allowed to expire, Pennsylvanians will see an increase in out-of-pocket costs, and many may become unaffordable.

“Supervisor Wolf will work to ensure that all Pennsylvanians have access to the care they need during the COVID-19 pandemic and beyond, and in 2022, Pennsylvania saw its lowest uninsured rate in history, at 5.4 percent, thanks “It’s very difficult to get help. And getting help from the American Rescue Plan helps,” Humphreys said. “We cannot slow down or lose this progress.”

Humphreys continued, Congress should expand ARPA grants so families can purchase or save on affordable housing. We believe that the increase in aid that is being discussed in the US Congress will become law, which gives time for the department to review the impact, or the modification of the prices that were given. “

About 375,000 Pennsylvanians enrolled in health care through the commonwealth’s official marketplace, PennieĀ®, during the last open enrollment period, an 11 percent increase over 2021. This includes more than 35,000 middle-income people who for the first time received financial assistance to reduce the cost of health care is an average of $252 per month.

As we look forward to opening enrollment in the fall, the Department of Insurance and Pennie strongly encourage Pennsylvanians to shop around for the best plans to fit their personal, family, and financial needs, even if they are currently enrolled in a health insurance plan through Pennie.

The Pennsylvania Department of Insurance is committed to thoroughly reviewing requested rates in order to set them at rates that are not excessive, inadequate, or discriminatory, consistent with the department’s goal of meeting the needs of Pennsylvania health insurance consumers.

The deadline to submit 2023 health insurance plan documents to the Department of Insurance was June 1, 2022. The rate change varies by plan and region and may change as the department conducts its review process. Final approved prices will be displayed publicly.

Public comments on rate requests can be sent to ra-in-comment@pa.gov.

More information is available at Insurance website.