Pennsylvanian's Health Insurance Costs Are Set To Change. A Look At Proposed Rates

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Pennsylvania residents insured in the individual and group markets can expect rates to increase by an average of 4.2% and 4.1%, respectively, in 2024.

Companies offering these health insurance plans must submit the proposed rates to the Pennsylvania Department of Insurance for review and approval before selling the plans. Meanwhile, state officials estimate that 100,000 or more residents are missing out on significant savings if they don't purchase their plans through Pennie, the state's public-private marketplace.

Pennie CEO Devon Tralee said Pennie can offer subsidized plans to those who are not covered by Medicare or Medicaid and earn less than 400% of the federal poverty level, which is about $54,000 per person per year.

“We have people who pay full price for regular plans and can get discounts when they use Pennie,” Trailley said. “We found that nine out of 10 registrants receive lower premiums, and one in four pays less than $30 a month.”

Open Enrollment at penny.com, November 1-January 15.

In the meantime, general rate changes continue to be reviewed by the Pennsylvania Insurance Department, which has the power to reject "unreasonable, excessive, or discriminatory" offers. Insurance Commissioner Mike Humphreys said claims growth this year is below the level of medical inflation and less than last year.

The public comment period for the proposed rate changes will end on 8 September. Comments can be sent by email to ra-in-comment@pa.gov.

"Every year it's really a tug of war," Humphreys said. - Let's make assumptions.

Offers include:

• Capital Advantage Assurance Co. , the average claim rate is 7.9%.

• Cigna Life and Health Insurance Co. , the average claim rate is 13.1%.

• Geisinger Health Plan , average sales 7.3%.

• Geisinger quality options , average sale price 7.1%.

• Highmark Inc. Benefit Group , the average claims rate is 13.2%.

• Highmark Inc. Hedge Advantage , the average claims rate is 9.9%.

• Highmark Inc. , the average level of demand is 11.2%.

• Independence Blue Cross , average application rate -2.7%.

• Keystone Health Plan Central , average sales -0.3%.

• Keystone East Inc. Health Plan , the average level of demand is -3.5%.

• Oscar Health Plan of Pennsylvania Inc. , the average level of demand is 6.8%.

• Pennsylvania Health and Wellness Inc. , the average claim rate is 2.3%.

• Average sales of UPMC Health Coverage Inc. is 7.6%.

• UPMC Health Options Inc. , the average level of demand is 6.2%.

Applications for 2024 health plans were filed with the Pennsylvania Department of Insurance in May. It is expected that the final approved rates will become known in the fall.

for a generation

The union strike in Erie County is getting more and more attention, even in the halls of Congress.

August 17 Rep. Rep. Mike Kelly (R-Pennsylvania) urged Wabtec executives and UE Local 506 workers to reach an agreement to end the two-month lockout at the Lawrence Park plant. Wabtec employs over 2,000 people and has been building locomotives locally for over a century.

"It's important to remember that no one can get everything they want from negotiations," Kelly said in a press release.

“I believe that participation in trade union negotiations is not part of the government's role. But I also believe that it is in the interests of the economy of Erie, Western Pennsylvania and the 1,400 families affected by these negotiations that all parties reach an agreement. agreement as soon as possible.

US Senator John Fetterman spoke at a rally on behalf of workers in Erie on 21 August. He told the crowd, "One of the most wonderful and powerful things ever invented is called a union."

As a result of the strike, local and state business leaders warned that the company could close the plant and move operations to a Texas facility.

“The plant closure will have an immediate ripple effect on local businesses that depend on the protection of 1,400 union workers and their families,” said James Grunke, executive director of the Erie Regional Chamber and Development Association, in a written column for erie. Time. - News. "From small shops and restaurants to service providers and vendors, the livelihoods of countless families are at stake."

The union's latest proposal calls for a 4% increase, followed by 3.5%, 3% and 3.5%.

Wabtec's latest offering offers a 3.4% first-year boost and a $3,000 signup bonus. This offer includes two more pay raises of 2.5% each, as well as another $2,000 later on the contract.

and jumping

Another Republican nominee will take on one of Pennsylvania's most vulnerable members of Congress.

Congressman Ryan McKenzie (R-Lehigh) announced in July that he was calling Susan Wild (D-Lehigh) for the 7th congressional district. PA Politics lists Wild as one of three Pennsylvania congressional candidates most vulnerable to defeat.

McKenzie has served in the state House of Representatives since 2012 and was appointed by former President Donald Trump to serve on the US Environmental Protection Agency's Local Government Advisory Committee and the White House Presidential Scholarship Committee.

Mackenzie joins the Republican Party, which includes Maria Montero and Kevin Delliker. Montero is a lawyer who served in the administration of former Gov. Tom Corbett, and Deliker is a veteran business owner who lost his bid to Lisa Scheller in the Republican primary last year.

The Wild outscored Scheller by 4 and 2 points in 2020 and 2022, respectively.

This article originally appeared in the York Daily Record: Pennsylvanians urged to use pennies in health insurance deals by 2024.

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