Salem, Ore. – The Oregon Insurance Division released final decisions for 2016 individual and small employer health insurance rates. The rates, which apply to about 10 percent of Oregonians, are for plans for businesses with fewer than 50 employees and individuals who buy their own coverage rather than getting it through an employer.
The division, part of the Oregon Department of Consumer and Business Services (DCBS), must approve any rates before they can be charged to policyholders.
In the individual market, the division’s final rate decisions range from an average rate increase of 8.3 percent to an average rate increase of 37.8 percent, depending on the insurance company.
The final Silver Standard Plan premiums for a 40-year-old in Portland will range from $271 to $389 a month.
In the small group market, the division’s final rate decisions range from an average rate decrease of 7.6 percent to an average rate increase of 15 percent.
Silver Standard Plan premiums for a 40-year-old in Portland would range from $275 to $356 a month.
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