Washington, DC–Today, the District of Columbia Department of Insurance, Securities and Banking (DISB) announced the 2023 approved individual and small business health insurance rates. As a result of the Department’s review, half of the insurers decreased their initial rate proposals, which will save District residents more than $17 million.
“The Bowser Administration and the Department of Insurance, Securities and Banking are committed to fair rates and non-discriminatory coverage,” said DISB Commissioner Karima M. Woods. “We performed a thorough review of 211 small group plans and 27 individual plans to ensure that they meet the District’s standards and provide non-discriminatory, accessible and affordable health insurance for our residents.”
Rates will increase overall by 13.6 percent for individual coverage and by 13.3 percent for small group coverage. The Department reviewed 238 proposed health plan rates for 2023 from CVS/Aetna, CareFirst BlueCross BlueShield, Kaiser Permanente and United Healthcare. The new rates were approved after the Department considered input from insurers, government and non-profit organizations, and testimonies provided by consumers and actuaries during a September 1 public hearing. At the hearing, actuaries presented their findings and members of the public had an opportunity to share their stories and discuss the proposed 2023 rates.
As a result of the Department’s review, and input provided at the hearing, two out of four insurers reduced their rates from their initial filings. The decreases from the initial filed rates were as much as 14 percent and, overall, the decreases as a result of the Department’s rate review will save District residents more than $17 million. CVS/Aetna, CareFirst BlueCross BlueShield, Kaiser Permanente and UnitedHealthcare will have plans available on DC Health Link and are the same insurance companies that offered plans in 2022.
“We are determined to provide consumer protection and effective regulatory oversight of health insurance offerings for District residents and employers,” Commissioner Woods added.
DC Health Link open enrollment for individuals and families starts November 1, 2022 and runs through January 31, 2023. Visit DCHealthLink.com or call 1-855-532-5465 for help enrolling.
The Department is grateful to consumer health advocates, health insurers, the DC Health Benefit Exchange Authority, actuaries, and the public for their input during the rate review process.
For more information about the approved 2023 health insurance plan rates, visit disb.dc.gov/approved2023rates.
|
2023 Individual and Small Group (SG) Health Insurance Rates |
|||||
|
Issuer |
Market |
Initial Rate Change Request |
Approved Rate Change |
Rate Review Impact |
Covered Lives Impacted by 2023 Rate Changes |
|
Aetna Life (PPO) |
SG |
5.0% |
5.0% |
0.0% |
236 |
|
Aetna Health (HMO) |
SG |
-7.0% |
-7.0% |
0.0% |
62 |
|
CareFirst (PPO) |
IND |
17.9% |
11.7% |
-6.2% |
7,925 |
|
SG |
13.3% |
12.6% |
-0.7% |
22,349 |
|
|
CareFirst (HMO) |
IND |
29.3% |
15.0% |
-14.3% |
3,758 |
|
SG |
18.3% |
15.5% |
-2.8% |
45,275 |
|
|
Kaiser |
IND |
17.0% |
17.0% |
0.0% |
2,694 |
|
SG |
11.0% |
11.0% |
0.0% |
4,581 |
|
|
UnitedHealthcare Insurance Company (PPO) |
SG |
10.4% |
8.0% |
-2.4% |
11,833 |
|
Optimum Choice, Inc. (HMO) |
SG |
10.1% |
7.7% |
-2.4% |
524 |
|
UnitedHealthcare of the Mid-Atlantic (HMO) |
SG |
13.8% |
11.3% |
-2.5% |
612 |
About DISB
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.
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