Hospital and drug costs accounted for most of the 7.8% rise in health care spending in the state in 2023, according to a May report from the Office of the Health Insurance Commissioner.
Spending rose across all major insurance markets. In the commercial market, spending per person was $6,735, up 6.9% from 2022. In Medicare, spending was $14,400 per person, up 8.7% from 2022 and $7,678 in Medicaid, a 6.7% rise over 2022.
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New regulations require commercial insurers to increase investment in primary care and reduce barriers that delay care.
On June 13, insurers submitted rate increase requests for individual, small and large group plans in 2026 that were the highest the Office of the Health Commissioner has reported in more than a decade.
Insurers identified several reasons for the rate requests. They included an expected rise in spending on health care services and potential negative effects tariffs may have on imported drug and ingredient prices.
