Insurers propose reduced premiums for individual policies

csimt In The News

By: AP

The three Montana companies that offer health insurance policies on the individual marketplace are proposing reduced rates in 2020, in part because of a bill passed by the Legislature to help spread the risk of high-cost claims, State Auditor and Insurance Commissioner Matt Rosendale said Thursday.

This is the first year under the Affordable Care Act where all three companies selling individual policies in Montana have recommended a rate decrease.

Blue Cross and Blue Shield of Montana is proposing a 14.1% average premium decrease for the 19,500 people it covers, Blue Cross spokesman John Doran said Thursday.

PacificSource is proposing a 13.4% decrease for the 11,500 Montanans covered by its plans while the Montana Health CO-OP is proposing an average 8% premium cut for its 20,700 members, Rosendale said…

Democratic Gov. Steve Bullock vetoed a reinsurance bill passed by the 2017 Legislature, saying his administration was concerned that it did not meet the requirements to apply for a federal waiver.

Bullock and the Department of Administration created a work group to study the issue and it drafted the reinsurance bill for the 2019 Legislature. Rosendale supported the measure and earlier efforts to create a reinsurance pool.

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