Health insurance rates will rise next year, according to the U.S. Department of Health. The report says a standard mid-level plan will rise by 2 percent in South Florida. The data echoes an earlier report from Florida’s Office of Insurance Regulation, showing a 10 percent rise overall in all health plans.
Florida’s Office of Insurance Regulation looked at all health plans, including those not sold on the ACA exchange. Employer-sponsored plans were not included in the data.
Plans sold on the ACA exchange are categorized by metal level, with bronze covering the lowest percent of a consumer’s health care costs (60 percent) and platinum covering the highest (90 percent).
Silver plans are the most popular choice on the ACA exchange. Nearly three of four Floridians with exchange plans, or more than 1 million people selected a silver plan.
The single-digit rate increases forecast for next year signal a normalization of medical inflation, said Audrey Brown, president of the Florida Association of Health Plans.