Insurers in the individual market are proposing significant rate increases for 2023 — a move that will add more pressure for Congress to extend subsidies that help people buy health insurance.
Insurers say the increases are necessary because they expect more people to make up for doctor visits and procedures they had postponed during the pandemic. They also cite rising health care costs caused by inflation, labor costs and an expectation that some individuals will drop out of the marketplaces because subsidies for some groups of people will expire at the end of the year.
“Big picture, the trend I am seeing is pretty significant proposed rate increases for 2023,” said Sabrina Corlette, co-director of the Center on Health Insurance Reforms at Georgetown University’s McCourt School of Public Policy.
