Health Insurance Premiums to Rise by 8% in 2015, Study Finds

A new study from healthcare business advisory company Avalere Health, has found average monthly premiums for silver health plans will rise by 8 percent in 2015 based on initial rate filings in nine states.

Across the nine-state group, the average silver premium is set to rise from $324 in 2014 to $350 in 2015. Of the nine states examined, Rhode Island had the lowest proposed increase at 2.5 percent, while Indiana had the highest rate proposed increase at 16 percent. Of the states examined, the only state where the average premiums will decrease is Oregon, where the premiums will fall by 1.4 percent.  

The study found premium variation within states will likely increase in 2014 as well. The difference between the highest and lowest proposed premiums for individual market silver plans increased in each of the nine states examined. The proposed premiums in Indiana ranged from $211 to $587 per month, which was the greatest variation in silver plan premiums among the nine states examined. 

"As insurers experience with exchanges grows, we expect the range of premiums to narrow," said Matt Eyles, executive vice president at Avalere Health, in a news release. "However, given the timing of plan filing for 2015, issuers had very little data from the 2014 market to inform their pricing strategy."

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