Home Economy Economic Activity Health insurers seek rate increases for 2027

Health insurers seek rate increases for 2027

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PBN Staff

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06/15/2026

LOCAL HEALTH insurers have submitted requested commercial health insurance rate hikes for 2027 for individual, small- and large-group plans, according to the R.I. Office of the Health Insurance Commissioner announced Monday. Five insurers – Blue Cross & Blue Shield of Rhode Island, UnitedHealthcare, Harvard Pilgrim Health Care of New England Inc, Aetna and Cigna each filed large-group rates, shown above. / COURTESY R.I. OFFICE OF THE HEALTH INSURANCE COMMISSIONER

PROVIDENCE – Local health insurers have submitted requested commercial health insurance rate hikes for 2027 for individual, small- and large-group plans, the R.I. Office of the Health Insurance Commissioner announced Monday. Blue Cross & Blue Shield of Rhode Island and Neighborhood Health Plan of Rhode Island filed rates for plans to be sold on the individual market

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PROVIDENCE – Local health insurers have submitted requested commercial health insurance rate hikes for 2027 for individual, small- and large-group plans, the R.I. Office of the Health Insurance Commissioner announced Monday. Blue Cross & Blue Shield of Rhode Island and Neighborhood Health Plan of Rhode Island filed rates for plans to be sold on the individual market to people and families who do not receive insurance through their employer. The requested average rate increases for the individual market in 2027 ranged from 9.8% for BCBSRI to 24.9% for NHPRI. The weighted average increase of individual market requests for 2027 is 20.1%, compared with the requested increase of 23.8% in 2026. Last year, OHIC approved an average individual market rate increase of 21.0% for 2026 coverage. The individual market rates filed by Neighborhood Health Plan of Rhode Island will be considered as part of an administrative hearing process on July 14 and 15, OHIC said. Five insurers – Blue Cross & Blue Shield of Rhode Island, UnitedHealthcare, Harvard Pilgrim Health Care of New England Inc., Aetna and Cigna – each filed large-group rates. The requested average rate increases for the large group market in 2027 ranged from 12.2% to 34.9%. By comparison, the approved rate increases in 2026 averaged 19.3%. The weighted average increase of large-group market requests in 2027 is 15.5%, compared with the average requested increase of 24.1% for 2026 coverage, OHIC said. In the small group market, insurers requested average increases for 2027 ranging from 7.7% to 19.0%. The weighted average increase of small-group market requests for 2027 is 8.7%, compared with the average requested increase of 22.0% for 2026 coverage. Last year, OHIC approved an average small-group market rate increase of 17.6% for 2026 coverage. Four insurers, Blue Cross & Blue Shield, Neighborhood Health Plan, UnitedHealthcare New England and UnitedHealthcare each filed small-group rates. The health insurance commissioner’s office may approve, modify or reject an insurer’s rate filing and all decisions are based on data and actuarial analysis. A final decision on the proposed rate increases is expected by mid-September. The health insurance commissioner’s office will now review the data, pricing assumptions, administrative charges and other information to determine how reasonable each insurer’s request is. The commission will also review each health insurer’s coverage and benefit contracts with customers to make sure they comply with state and federal law. “Health insurers are once again seeking rate increases to cover the rising cost of health care and other expenses,” said R.I. Health Insurance Commissioner Cory King. “OHIC will thoroughly review these requests to determine whether they are justified.” Small-group rate requests:

Blue Cross & Blue Shield of Rhode Island has requested a 7.7% increase.

Neighborhood Health Plan of Rhode Island has requested an 16.6% increase.

UnitedHealthcare of New England has requested a17.1% increase.

UnitedHealthcare Insurance Co. has requested a 19% increase.

Large-group market rate requests:

Blue Cross has requested a 12.2% increase.

UnitedHealthcare has requested a 34.9% increase.

Harvard Pilgrim Health Care Insurance Co./Harvard Pilgrim Health Care of New England has requested a 15.9% increase.

Aetna Inc. has requested a 13.8% increase.

Cigna has requested a 12.5% increase.

Individual market rate requests:

Blue Cross has requested a 9.8% increase.

Neighborhood Health Plan has requested a 24.9% increase.