Obamacare rate hike will affect Indiana

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If you are on Obamacare, your rates in Indiana may actually be going up, despite some reports that said that Indiana’s reach was expected to drop by three percent next year.

The Indiana Department of Insurance released a statement late Tuesday disputing a report that said that rates would go down, but instead said that it is possible that some Hoosiers will see rates that increase by as much as 29 percent on average.

“The health insurance rates in the Indiana Marketplace are going to increase. In fact, many Hoosiers will see a double digit increase,” said Stephen W. Robertson, Commissioner of Indiana Department of Insurance.

The department said the following will happen:

Next year, based upon current enrollment, the average rate will increase by 18.7% over the 2016 rates for the Indiana Marketplace.

Overall, the premiums in the Indiana individual market have gone up by almost 70% since the Affordable Care Act was implemented. Members currently enrolled in the state’s largest plan may see up to an average 29% increase.

For 2017, four carriers will be selling on the Indiana Marketplace: Anthem, CareSource, Celtic (MHS) and MDwise Marketplace. This is four fewer carriers than in 2016.

The following plans have withdrawn from the Indiana Marketplace and will no longer offer health plans on the Marketplace: IU Health Plan, Physicians Health Plan of Northern Indiana (PHP), All Savers, and Southeastern Indiana Health Organization (SIHO).

story from Network Indiana