Affordable Care Act insurers propose premium hikes for 2016
TRENTON (AP) — Three health care companies that sold insurance to New Jersey residents through the Affordable Care Act this year are asking the state to approve double-digit price hikes for 2016.
The Record reports competition within the state kept premiums balanced in 2015, but no new companies are joining for 2016.
Health Republic Insurance of New Jersey has requested an 18 percent increase for all premiums. Horizon, the state's largest insurer, is asking for increases averaging 10.8 percent. Oxford Health Plans want a 15.7 percent boost.
The Kaiser Family Foundation, a nonprofit that analyzes health care issues, says premium increase requests in 10 other states and the District of Columbia remained modest.
The proposed hikes would affect 53 percent of the 254,300 people who signed up for coverage in 2015.
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