| The news
Small group insurers are proposing a median 14% increase in premiums for 2027, according to a recent analysis from KFF and the Peterson Center on Healthcare. The findings
The report analyzed 295 small group insurers’ rate filings to state regulators across all 50 states and the District of Columbia. Insurers submit these filings each year to justify their rate increases for the next year. Small group plans are typically offered to small businesses with 50 or fewer employees. It found that 59% of small group insurers are proposing rate increases of 10% to 20%, while about 15% are proposing increases of more than 20%, and 26% are proposing increases of less than 10%. The analysis also examines the factors driving these premium increases, based on a review of 82 insurer filings from the 14 states and District of Columbia with unredacted filings. These states include Connecticut, Hawaii, Illinois, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, New York, Oregon, Rhode Island, Vermont and Washington. Many cited rising healthcare costs as a major contributor. Soundbite
“Costs for medical care and medications for our members have escalated rapidly and spending is now growing at the fastest rate in more than a decade. The surge in spending is putting a heavy burden on our employer customers and members who are struggling to keep up with rising costs,” said Blue Cross and Blue Shield of Massachusetts HMO Blue in its filing. — By Marissa Plescia |
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