Pennsylvanians who plan to shop later this year on the state’s Affordable Care Act exchange are unlikely to find shelter from the inflation that has engulfed other areas of the economy, according to a preview offered Monday by the Pennsylvania Insurance Department.
The insurance department said health insurers requested a statewide average premium increase of 7.1% for individual plans covering 2023, compared to a 2% requested increase a year ago for this year’s plans. Approved rates will be released in October.
Many other states are seeing even bigger requested rate increases, according to ACASignups.net. New Jersey, where insurance is sold at GetCoveredNJ, has not yet provided information on requested increases for 2023 plans.
