What is rate review?
The rate review process, established by the Montana Legislature in 2013, does not give the Commissioner the authority to disapprove rates or prevent them from taking affect. It does give the commissioner the chance to review the factors insurance companies use in setting rates.
If the commissioner finds a rate increase to be excessive or unjustified, the insurer can voluntarily lower the rate increase. If the insurer decides to use the rate anyway, the commissioner will issue a public finding announcing that the rate is unjustified.
What does the department consider?
Rates reflect estimates of future costs, including medical and prescription drug costs and administrative expenses, and are based on historical data and forecasts of trends in the upcoming year. In its review, the Department considers these factors, as well as factors such as the insurer’s revenues, actual and projected profits, past rate changes, and the effect the change will have on Montana consumers.
Below, you can review information on rate filings for individual and small group products that comply with the Affordable Care Act (commonly known as Obamacare). You can access past year filings here.
Public Comment
- CSI will accept public comments through August 1, 2020 at CSIPublicComment@mt.gov. CSI will compile public comments and pass them to the appropriate insurer(s).
Supplemental materials
Additional Information
Get additional information on Montana’s 2021 rate review and rate changes HERE. Select Montana and your insurer from the menus.
Rate Filings for 2021 Plans – Individual Market
Company Name | Average Rate Change | Approx. Number Insured | Part II Justification |
HCSC (Blue Cross Blue Shield of Montana) | 0.0% | 20,000 | View PDF |
Montana Health Co-op | 0.68% | 18,700 | View PDF |
PacificSource | 5.0% | 12,000 | View PDF |
Rate Filings for 2021 Plans – Small Group
Company Name | Average Rate Change | Approx. Number Insured | Part II Justification |
HCSC (Blue Cross Blue Shield of Montana) | 1.7% | 27,000 | View PDF |
Montana Health Co-op | -4.5% (decrease) | 500 | View PDF |
PacificSource | 3.7% | 17,700 | View PDF |
UnitedHealthCare | 1.6% | <200 | View PDF |