The Oregon Insurance Division says it is pushing health insurers to charge higher individual rates in 2016 because they are reporting huge underwriting losses for 2014.
The insurers collected just $703 million in premiums for 2014 and spent $830 million on 2014 claims, officials say. - Life Health ProNormally the DOI wants to see lower rates, not higher. So what gives?
"That means consumers are not overcharged for health insurance, but it also means that rates must cover the cost of patients' medical bills," Calli says. "We have proposed increased rates in order for consumers to continue counting on the coverage they have purchased."In other words, if the carrier isn't charging enough the state has to step in and take over.
Something they don't want to do.