trending Market Intelligence /marketintelligence/en/news-insights/trending/7e5tWulnRHAz9SkUnroXNQ2 content esgSubNav
In This List

Pennsylvania regulator approves 30.6% average rate increase for ACA plans in '18

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Perspectives from China: Chinese M&A in 2022


Pennsylvania regulator approves 30.6% average rate increase for ACA plans in '18

The Pennsylvania Insurance Department approved rate increases as high as 49.20% for individual plans to be sold on the state's Affordable Care Act exchange for 2018.

Pennsylvania's acting insurance commissioner, Jessica Altman, approved an average 30.6% rate increase for all individual plans on the state's exchange because of the White House's decision to discontinue cost-sharing reduction payments. Altman wrote in a statement that had the subsidies been funded, rates would have increased an average of 7.6%.

The acting commissioner approved an average 7.6% increase for small group plans on the state exchange.

"This is not the situation I hoped we would be in, but due to President [Donald] Trump's refusal to make cost-sharing reduction payments for 2018 and Congress's inaction to appropriate funds, it is the reality that state regulators must face and the reason rate increases will be higher than they should be across the country," Altman wrote.