ODS Health Plan Proposes 9.94% Rate Increase
ODS Health Plan has filed for a 9.94% average premium increase effective November 1, 2011. This impacts 26,333 Oregon consumers and families with individual policies, who don’t have employer-sponsored coverage.
While sizable, the filing marks a welcome return to single-digit rate increases for ODS consumers, who saw increases exceeding 17% in the last two years.
On September 14th from 2:00-3:30pm the Oregon Insurance Division will hold a public hearing on this pending rate increase. More information on the hearing is available on the Division’s website here: http://www.oregonhealthrates.
OSPIRG Foundation’s Health Insurance Rate Watch project will analyze the ODS Health Plan proposed rate increase, submit an official comment to the Insurance Division and post it on the OSPIRG website. The Insurance Division has asked OSPIRG to testify on its findings at the hearing, and pose questions to the insurer via the Division in advance.
Read the ODS Health Plans proposal and post a comment of your own. The deadline for public comments is September 20, 2011.
Background on Oregon’s health insurance rate review program:
In 2010, Oregon strengthened the standards that health insurance companies must meet before raising premiums. Insurers must justify rate hikes in writing, showing that they are not excessive and explaining how the insurer is working to reduce costs. All rate filings are public information, available online, and open to public comment. The Oregon Insurance Division evaluates these justifications, and must take public input into consideration. More recently, the Insurance Division has begun to hold public hearings on significant rate increases. More information.
OSPIRG Foundation’s Health Insurance Rate Watch project is funded in part by a grant from the Insurance Division to provide analysis and comments of health insurance rate filings from a consumer perspective. The project’s advisory committee includes small business and consumer experts such as AARP-Oregon and Consumers Union.
OSPIRG Foundation is a non-profit, non-partisan consumer organization. For more information on the Health Insurance Rate Watch Project, visit http://www.ospirg.org/health-