June 29, 2021
Salem — Oregonians can see and comment on the state’s preliminary rate decisions for 2022 individual and small employer health insurance plans. The Division of Financial Regulation has released the preliminary rate decisions and virtual public hearing schedule.
The preliminary decisions will go through continued review and discussion during a series of
virtual public hearings Tuesday, July 6 and Wednesday, July 7. At the hearings, each insurance company will provide a brief presentation about their rate requests, answer questions from the division, and hear public comment from Oregonians.
For the individual market, six companies were issued preliminary decisions with average rate changes ranging from a 1.0 percent decrease to a 4.9 percent increase. Under the preliminary decisions, Silver Standard Plan premiums for a 40-year-old in Portland would range from $450 to $505 a month.
In the small group market, the division issued preliminary decisions for 10 companies ranging from a 3.3 percent decrease to a 5.2 percent increase. Under the preliminary decisions, Silver Standard Plan premiums for a 40-year-old in Portland would range from $336 to $415 a month.
See the
2022 health insurance rate chart for the full list of preliminary decisions.
Common trends that affect rates include:
- Medical costs continue to rise, driven by increased use and the cost of new specialized prescription drugs.
- Adjustment for
House Bill 2623 which limits cost-sharing for health plan coverage of insulin prescribed for treatment of diabetes.
- The Oregon Reinsurance Program, continues to lower rates by 6 percent for the fourth consecutive year.
Oregonians are encouraged to participate in the virtual public hearings. Visit the division’s
rate filings page to view requested rates and provide public comment.
Visit the
public hearings page for time, date, and instructions on how to participate in each insurer’s rate hearing.
Final decisions are expected to be announced in early August.
###
About DCBS: The Department of Consumer and Business Services is Oregon's largest business regulatory and consumer protection agency. For more information, visit www.dcbs.oregon.gov.
About Oregon DFR: The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon’s largest business regulatory and consumer protection agency. Visit
www.dcbs.oregon.gov and
http://dfr.oregon.gov/Pages/index.aspx .