Plans Offered by Insurers on Louisiana’s ACA Exchange Hiking Rates by Double-Digits

Nearly 211,000 Louisiana residents covered under an “Obamacare” plan can expect to see rate hikes between 16.4 and 30.75 percent in 2017. The premium hikes are meant to cover the massive losses the plans have accumulated. Insurer’s filings with the Louisiana Insurance Department detail enrollee’s increased use of services, higher costs of benefits and prescription drugs and lower payments from a federal program meant to protect insurers from unexpectedly high claims and losses. Among the plans proposing increases are Blue Cross and Blue Shield of Louisiana, Aetna Health Inc., Humana Health Benefit Plan of Louisiana Inc., and Vantage Health Plan Inc. In April, UnitedHealth pulled itself from the ACA Exchanges in Louisiana and most other states after it says their plans in those states accumulated losses of more than $1.1 billion nationally over a two-year period. UnitedHealth’s departure from Louisiana’s ACA Exchange will leave approximately 29,000 people looking for a new insurer for 2017.