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Health Insurance Plans Could Rise if ACA Stays In Effect

Posted: Updated:
The Health Insurance Reform Commission received insurance rate filings for next year The Health Insurance Reform Commission received insurance rate filings for next year
22nd District Delegate Kathy Byron, chair of the Health Insurance Reform Commission 22nd District Delegate Kathy Byron, chair of the Health Insurance Reform Commission
Toni Janoski, Bureau of Insurance supervisor of health rates Toni Janoski, Bureau of Insurance supervisor of health rates
RICHMOND, Va. (WVIR) -

If the Affordable Care Act stays in effect, many health insurance plans in Virginia will see a significant spike in premiums.

The Bureau of Insurance says based on the rate filings for next year, individual plans could go up, on average, 28 percent. 

The Health Insurance Reform Commission received those filings this week in Richmond.

“Several carriers currently providing coverage in these markets in 2017 have not made filings for 2018,” said Toni Janoski, Bureau of Insurance supervisor of health rates.

United Health care and Aetna, two of the biggest insurers in the nation, are now out of the game.

According to the Bureau of Insurance, just seven companies have applied to offer plans on the individual market in Virginia.

“This continues to implode. Our choices are getting more and more limited,” said 22nd District Delegate Kathy Byron (R).

A few of these proposed plans could have just marginal changes but one carrier could see a maximum rate increase of 180 percent.

Byron, the chair of the Health Insurance Reform Commission, says she hopes action is taken in Washington, D.C. to address the dwindling options and concerns about unsustainable high costs under the Affordable Care Act.

“It’s just devastating to the economy, to people's budgets, to people being able to have access to health care,” Byron said.

On the federal level, the Republican plan to replace the Affordable Care Act has passed the House but Senate leaders say they plan to start from scratch. That means a waiting game in Virginia.

“We need to make sure in Virginia that we operate under the assumption that nothing will happen so that we're prepared for the people in Virginia to be able to have access to health insurance,” Byron said.

These filings are just preliminary. The numbers could shift for a variety of reasons and regulators must approve of these changes.