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BISMARCK, N.D. (KVRR) — North Dakota’s insurance commissioner says rising healthcare costs are the primary reason why Affordable Care Act rates are going up.
Jon Godfread says those in ACA individual and small group plans can expect higher rates.
Small group plan rates are going up from 9.5% to 18% on average.
The highest approved increase in that group is for Sanford Health Plan at an average of 18.3%.
Individual market rate increases are between 7% and 19% on average.
The highest approved individual market rate increase is for Blue Cross Blue Shield of North Dakota was at 19% on average.
State law gives the commissioner the authority to approve or adjust rates requested by companies.
“Families and small businesses are right to be frustrated by another increase in their health insurance premiums,” Godfread said. “At the heart of this problem is the cost of receiving health care. When hospital care, medical services and prescription drugs become more expensive, the cost of insuring that care rises, too. We cannot deliver lasting relief on insurance premiums without addressing the bills those premiums pay.”
Open enrollment for ACA plans is from November 1 to January 15.
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