Most Kentucky health insurance companies ask for higher rates in 2016
FRANKFORT, KY (AP) —
Health insurance companies selling plans on Kentucky’s state-run exchange have requested rate increases of as much as 25 percent for 2016.
The biggest proposed increase was 25.1 percent for the Kentucky Health Cooperative, the nonprofit that started with the help of a $58.8 million federal loan and has sold the most private plans of any health insurance company on kynect. The company got a 15 percent rate increase for 2015 along with another $65 million federal loan to help it stay solvent.
Anthem Health Plans of Kentucky asked for a 14.6 percent increase, CareSource asked for an 11.83 percent increase while Humana asked for a 5.2 percent increase. WellCare Health asked for a 9.28 percent decrease.
The rate requests are all averages based on the products those companies sell. Individual rates may vary.