Dramatic Increase Expected in ACA Rates
Health insurance coverage in Oklahoma under the Affordable Care Act could sky-rocket next year. Customers are being warned that rates could increase dramatically in 2017. The federal government is expected to rule on the increase before the end of this month.
Blue Cross is now the sole provide over ACA coverage in the state and it wants a premium increase of between 49 and 51 percent, depending on the individual plan.
The Oklahoma Insurance Commissioner's office feels Blue Cross under estimated the cost of covering pre-existing conditions. If those with pre-existing conditions cannot afford the new rates, they will have few options. Many states, including Oklahoma, have closed their high risk insurance pools.
The federal government is expected to rule on Blue Cross’ request next Tuesday, August 23rd..