• Consumers


  • Producers/Agents


  • Companies


ACA Rate Changes for Alabama Policies in the Individual Market

Contact: Mark Fowler

(334) 241-4146

8/21/2020

The Affordable Care Act (ACA) requires that insurers planning to increase plan premiums submit their rates to the Alabama Department of Insurance for review.


The rate review process is designed to improve insurer accountability and transparency. It ensures that experts evaluate whether the proposed rate increases are based on reasonable cost assumptions and solid evidence.  The ACA also requires that a summary of rate review justifications and results be accessible to the public in an easily understandable format. The Federal HeathCare.gov Rate Review website is designed to meet that mandate.  For more information, see https://ratereview.healthcare.gov/.

 

However, there was an error in the rate submission the Alabama Department of insurance (ALDOI) for one Alabama program in the ACA Individual Market.  That information is provided in the tables below.  Also attached are links to the redacted actuarial memorandum, which support these changes.  The rate changes are being proposed and reviewed by the ALDOI.  As soon as they are final, they may be purchased on the Federal Exchange or through private agents and brokers.  The programs will be effective beginning on January 1, 2021. 

 

If you wish to submit a comment please use the form available at the following link:  http://www.aldoi.gov/Consumers/FileComplaint.aspx

                                                                                                                                                                                                     

  Proposed Rate Changes for Affordable Care Act Policies

In the Individual Market

Changes proposed to be effective January 1, 2021 

Blue Cross and Blue Shield of Alabama

Product

Sold on Exchange?

Requested Rate Change

Blue Cross Select Gold

On & Off

4.89%

Blue HSA Gold

  Off 

4.95%

Blue Value Gold

On & Off

4.90%

Blue Saver Silver.

On & Off

4.93%

Blue Secure Silver

Off

4.95%

Blue Cross Select Silver

On & Off

5.39%

Blue Value Silver

On & Off

5.49%

Blue HSA Bronze

On & Off

2.81%

Blue Saver Bronze

On & Off

2.80%

Blue Protect

On & Off

-2.00%





Bright Health Insurance Co of Alabama

Product

Sold on Exchange?

Requested Rate Change

Gold 1800

On

18.94%

Silver 3500 + Specialist Copay

On & Off

17.24%

Silver 4200

On & Off

19.62%

Silver 3500

On & Off

19.00%

Bronze 8150

On & Off

34.89%

Bronze 6150

On & Off

33.50%

Bronze 7000 HSA

On & Off

30.57%

Catastrophic 3 $0 PCP Visits

On & Off

30.87%



Redacted Actuarial Memorandum for each company:

Blue Cross Blue Shield. pdf
Bright Health.pdf