(Washington)—The DC Department of Insurance, Securities and Banking (DISB) has received 215 proposed health insurance plan rates for annual review in advance of open enrollment for plan year 2024. The proposed rates were submitted for DC Health Link, the District of Columbia’s health insurance marketplace, from Aetna, CareFirst BlueCross BlueShield, Kaiser and United Healthcare.
The proposed rates are for individuals, families and small businesses for the 2024 plan year. Overall, the number of plans submitted for 2024 is down by 23 from those submitted for 2023. The number of small group plans decreased from 211 to 188 while the number of individual plans remained at 27.
“DISB ensures that District insurance rates are adequate and fair and reflect the Bowser Administration’s vision to protect and support residents and small business owners,” said DISB Commissioner Karima M. Woods. “The Department is scrutinizing the proposed rates and will make a determination on final rates after a public hearing in September.”
In the individual market, CareFirst proposed an average increase of 18.5 percent for HMO plans and an average increase of 9.9 percent for insurance plans. Kaiser proposed an average increase of 12 percent. For small group plans, CareFirst filed average rate increases of 8.1 percent for HMO plans and 9.5 percent for the insurance plans. Kaiser proposed an average increase of 10 percent. Aetna filed for an average increase of 11.4 percent for HMO plans and an average decrease of 3.8 percent for insurance plans. Finally, United Healthcare proposed an average increase of 6.6 percent and 6 percent for its two HMOs and 6 percent for its insurance plans.
The public can comment on the proposed rates by sending an email to [email protected].
The mission of the Department of Insurance, Securities, and Banking (DISB) is three-fold:
(1) cultivate a regulatory environment that protects consumers and attracts and retains financial services firms to the District; (2) empower and educate residents on financial matters; and (3) provide financing for District small businesses.