Health Insurance Exchange Rates In Illinois See Steep Hikes

Aug 1, 2017

Illinois consumers who buy coverage through the Affordable Care Act exchange could see prices increase by as much as 43 percent next year.

Credit Flickr user Michael Chen "Pills" (CC BY 2.0) bit.ly/1RgH2Na

The Chicago Tribune reports that several health insurance carriers proposed double-digit increases in rates released Thursday under what's often referred to as the “Obamacare'' exchange. Health Alliance Medical Plans, which offered coverage mostly in central and southern Illinois this year, is proposing rate increases of as much as 43 percent.

All three insurers that offer plans in Cook County via the exchange are proposing increases. Blue Cross and Blue Shield of Illinois is proposing an average 38.2 percent increase for its BlueCare Direct plans. The insurer cited increased medical and prescription drug costs.

The proposed rates aren't final and don't include federal subsidies that could lower costs for many people.