A Washington state board has locked in rates for plans on the state health insurance exchange for next year.
Overall, the rates will decrease by about 3 1/4%.
“Obviously it will be different, depending on what plan you pick and not all of them are going to have that decrease, but that’s the average," said Stephanie Marquis from the Washington Insurance Commissioner’s office. “I think what we’re seeing is the insurers are understanding the market better and they understand who’s enrolling. Basically it’s a stabilization of the insurance market and that’s a good thing.”
Insurance Commissioner Mike Kreidler says the state needs to continue to work on lowering the costs of providing health care and lowering out-of-pocket costs.
Eight companies will offer health insurance in Washington in 2020. People in every county will have at least one health plan to consider.
Open enrollment for health insurance plans will run from November 1 to December 15 for policies that will go into effect in 2020.