Oregon Health Insurance Exchange released proposed rates for coverage starting 2014. The Oregon Health Insurance Exchange, Cover Oregon, will be Oregon's marketplace where individuals and small businesses can shop for health insurance plans and receive access to ACA tax credits and subsidies. How much will health plans cost for individuals, families, and small businesses through the Oregon Health Insurance Exchange?
The Oregon Insurance Division and Department of Consumer and Business Services (DCBS) recently released proposed health plan rates for Oregon individuals, families, and small businesses. The Oregon Health Insurance Exchange will open October 1, 2013, for coverage starting January 1, 2014.
According to the DCBS, thousands of Oregon residents are expected to purchase personal insurance policies using federal financial help (tax subsidies) through the Oregon Health Insurance Exchange. The Oregon Health Insurance Exchange intends to provide consumers with more choices, especially for individuals with pre-existing conditions, as federal law makes all policies guaranteed-issue.
Oregon Health Insurance Exchange - Proposed Carriers
Oregon currently has a highly-competitive health insurance market, which will be reflected in the Oregon Health Insurance Exchange's offerings. Along with 16 insurers, two (2) Consumer Operated and Oriented Plans (CO-OPS) filed plans and proposed rates with the Oregon Insurance Division. All plans still require approval by the Oregon Insurance Division. Carriers and rates will be finalized by July 2013. Proposed carriers in the Portland area for individual plans include FamilyCare Health Plans, Freelancers Co-Op of Oregon, Health Net Health Plan of Oregon, John Alden Life Insurance Company, Kaiser Foundation Health Plan of the NW, LifeWise Health Plan of Oregon, Moda Health Plan, Oregon's Health Co-Op, PacificSource Health Plans, Providence Health Plan, Regence BlueCross BlueShield of Oregon, Time Insurance Company, and Trillium Community Health Plan.
Oregon Health Insurance Exchange - Proposed Individual Plan Rates
The proposed Oregon Health Insurance Exchange rates for individual plans are divided by county, age, and carrier. For the Portland area, a bronze plan for a 40-year-old, non-tobacco-user averages $265/month (before individual tax subsidies). In 2012, the average individual policy in Oregon (across all ages, adults and children) was $207/month. Here's a look at all proposed rates for individual coverage in the Portland area:
Oregon Health Insurance Exchange - Proposed Small Business Group Rates
The Oregon Health Insurance Exchange also provided proposed small business group rates (for businesses with 50 or fewer employees). For the Portland area, a bronze plan for a 40-year-old, non-tobacco-user single employee averages $273/month (before employer contribution). In 2012, the average single premium for employer-based health insurance was $421/month (averaged across all ages and Oregon businesses). Here's a look at all proposed rates for small business coverage in the Portland area: