Consumers Council of Missouri has completed a formal review of proposed 2018 health insurance rates in the state of Missouri. This marks the first year the Missouri Department of Insurance has the authority to review rates and CCM is calling for the Department to deem each of the rates hikes “unreasonable.”
Three companies will be offering insurance on the exchange in Missouri in 2018: Cigna, Healthy Alliance (Anthem) and Celtic (Centene, new to the MO exchange). Proposed rate increases are estimated to affect hundreds of thousands of Missourians and increases vary from 17% to 73% for individual plans. This will have a significant impact on consumers ability to afford insurance throughout the state.
In summary, the filings include several unreasonable assumptions as well as a redaction of much of the data needed to properly analyze the findings. Therefore, Consumers Council of Missouri urges the Department to exercise its authority under Mo. Rev. Stat. § 376.465.10(4) and deem rates proposed by both Cigna and Healthy Alliance unreasonable absent further justification.
CCM’s full report of Cigna’s rate filing can be downloaded here and our full report for Healthy Alliance can be downloaded here and with our letter to the Department which summarizes both may be viewed here.