Many health insurers go big with initial 2016 rate requests
Dozens of health insurers want price hikes well beyond 10 percent for their individual coverage next year, as some juggle higher-than-expected costs and rising prescription drug expenses.
Blue Cross and Blue Shield of North Carolina is seeking a roughly 26 percent premium increase, while plans in Illinois and Florida, among other states, are asking for hikes of 20 percent or more, according to preliminary rate information released Monday on the federal government's HealthCare.gov website.
Those requests don't guarantee that customers will be stuck with bigger bills. Regulators in many states have the power to reject rates.
Experts also say the increases detailed Monday don't reflect overall rates in the broader market. Insurers seeking premium hikes of 10 percent or more are required to justify them under the health care overhaul.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
One man, fireman and police officer, gets hero's funeral he deserved
Baton Rouge comes out in force for 33rd Wearin' of the Green...
Capital area prepares for St. Patrick's Day Parade
Student, worker arrested after fist fight between at local high school
Police: Man shot by deputy was having 'psychotic break', linked to nearby...