Oklahoma 2015 Health Insurance Exchange Rates Include Hikes, Decreases

Oklahomans shopping for individual health insurance policies through the federal exchange will be able to choose from six different companies offering multiple plans, the Oklahoma Insurance Department announced.

Rate renewals for 2015 policies range from a decrease of 9.1 percent to an increase of 29 percent. The actual rate for an individual will depend on several factors, including age, geographical location and tobacco use.

“In the second year of the federal exchange, carriers have adjusted their rates to adequately reflect their utilization costs, comply with federal rules on medical loss ratios and reflect revisions to their provider networks,” said Oklahoma Insurance Commissioner John D. Doak.

There will be six issuers of qualified health plans (QHPs) in the federally-facilitated individual marketplace for 2015: Aetna, Coventry, Blue Cross Blue Shield of Oklahoma, GlobalHealth, Assurant/Time and CommunityCare. In the Small Business Health Options Program, or SHOP Marketplace, there are three issuers: Blue Cross Blue Shield of Oklahoma, GlobalHealth and CommunityCare.

Federal exchange rates are approved by the U.S. Department of Health and Human Services.

Individuals may sign up for new coverage or renew existing coverage during the open enrollment period, which runs from Nov. 15, 2014-Feb. 15, 2015, on www.healthcare.gov.

Source: Oklahoma Insurance Department

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