On Aug. 6, PEN INS reported proposed 2025 health rate increases.
PEN INS reported proposed health insurance rate increases for 2025, that were submitted on May 15, 2024; PEN INS is reviewing to ensure adequacy and fairness.
2025 Rate Increases
Health insurers must annually file plans to allow plan-pricing to reflect expected claims and operational costs for the upcoming year, cost increased due to medical unit costs.
Most insurer proposed rate change requests show an average 8% premium increase.
The proposed rates may not reflect final reinsurance or risk adjustment amounts due to flexibilities provided to insurers to submit data needed to calculate the adjustments.
Geisinger Health Plan and Quality Options proposed expanding into Franklin County.
Health Partners Plans Inc. proposed expanding into Delaware, Lehigh, Northampton counties; PEN Health & Wellness Inc. proposed expanding offering into 11 counties.
Comments
Public comment on rate requests and filings will be accepted through Sep. 2, 2024.
Oct. 2024 PEN INS 2025 Heath Rates
On Oct. 9, 2024, PEN INS issued 2025 Affordable care act health insurance rates.
Residents will save approximately $77.2mn in 2025 health insurance premium costs.
Most insurers currently offering individual market coverage in Pennsylvania's 67 counties will continue to provide plans in 2025 with Statewide average increase of 6%.
