The R.I. Office of the Health Insurance Commissioner on Sept. 29 approved another year of double-digit health insurance premium increases for many Rhode Islanders.
The average approved rate increase for the 2027 individual market is 12.4%. For the 2027 small group market, the average approved rate increase is 3.8%. At 9.5%, the approved average large group market rate increase is 9.5%.
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“Rising health care costs continue to present a financial burden and barrier to care for too many Rhode Islanders,” said R.I. Health Insurance Commissioner Cory King.
Attorney General Peter F. Neronha said the approved individual market rate increases, though lower than those sought by the insurers, “remain unsustainable for Rhode Islanders struggling to afford basic goods like food, housing and energy – all of which are more expensive than ever.
“Rhode Islanders deserve better than a system that consistently requires consumers to shoulder the financial burden of policy shortcomings while insurers enjoy their ever-increasing profits,” Neronha added.
