TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (OIR) announced today that premiums for Florida individual major medical plans in compliance with the federal Patient Protection & Affordable Care Act (PPACA) will increase an average of 5.2 percent beginning January 1, 2019. Per federal guidelines, a total of nine health insurance companies submitted rate filings for OIR’s review in June with final rate determinations due by August 22, 2018.
Following OIR’s rate filing review, the average approved rate changes on the Exchange range from a low of -1.5 percent to a high of 9.8 percent. This information can be located in the Individual PPACA Market Monthly Premiums for Plan Year 2019 document available here.
Federal review of the rate filing information has not been finalized by the Department of Health & Human Services and is subject to change. Further information can be obtained from each insurance company, the Federal Government’s website, OIR’s I-File Forms and Rates Filing Search System, and OIR’s Federal Health Care Insurance Reform webpage.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information, please visit www.floir.com or follow us on Twitter @FLOIR_comm and Facebook.