HealthSource RI recently announced that enrollees in health and dental insurance will on average see monthly costs double by about $111 per person if enhanced federal tax credits expire at the end of the year as expected.
Last month the R.I. Office of the Health Insurance Commissioner approved weighted average insurance rate changes of 21% for the individual market, 17.6% for the small- group market and 19.3% for the large-group market.
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At PBN’s Oct. 30 Health Care Summit, Blue Cross & Blue Shield of Rhode Island CEO Martha Wofford noted that health care expenses are “an unbelievable burden” on patients, noting, “when it comes to … affordability, we are in crisis.
“We have a crisis on Rhode Islanders’ abilities to afford the premiums that we are putting out in the market,” she said. “And they are driven by these incredibly high health care costs.”
And Health Insurance Commissioner Cory King at the same summit noted that with most employees receiving insurance through their workplaces, “when premiums go up, workers take a pay cut.”
