The average increase calculated by the state applies to all health insurance plans sold in
An estimated 1.53 million Floridians bought plans on the ACA exchange in 2016, according to the
The state's insurance regulator did not provide an overall average rate increase for plans sold solely on the ACA exchange. However, regulators did provide a breakdown by company. The averages ranged from a low of 11.7 percent for Health First to a high of 36.8 percent for Humana.
Among ACA-compliant plans sold off the ACA exchange, Cigna's premiums will drop by an average of 1.5 percent while AvMed's plan will rise by 27.3 percent.
"That alone is pushing premiums up by 4 to 6 percent," Levitt said of the reinsurance program, which expires at the end of 2016.
Levitt said prescription drug use also drives premium hikes. And the healthcare consulting firm Avalere reports that rates also are increasing because of a spike in hospital spending, with hospital services accounting for about 53 percent of premium growth.
A total of 15 health insurance companies submitted rate requests in May for the state to review. Eight of those insurers planned to sell plans on the ACA exchange, though one,
19.1 Average percentage increase in premiums for Affordable Care Act compliant plans in 2017
Another factor driving premiums in 2017 is the departure of insurers from the ACA exchange, particularly
"The less competition you have, generally, the higher premiums are going to be," Levitt said.
But while the number of ACA exchange insurers has dwindled across the country, leaving counties in some states with only one insurer selling coverage,
Some insurers are even expanding their presence on the ACA exchange for
In a statement announcing the expansion,
Woodward said Molina was expanding its presence on
"We attribute much of our success in the marketplace to this strategy as our marketplace provider networks mirror our
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