Sept. 1, 2021
*Updated to reflect change in small group market*
Salem — Small businesses and people who buy their own health insurance can now see the Oregon Division of Financial Regulation's final rate decisions for 2022 health insurance plans. The division reviews and approves rates through a detailed and transparent process before they can be charged to policyholders.
The final decisions are based on the result of a rigorous review, which included public hearings and public comment. The division published
preliminary decisions at the end of June before the public hearings. These hearings provided an opportunity for the public, health insurance companies, and the division to further review and analyze the preliminary decisions.
“The Oregon Reinsurance Program continues to strengthen Oregon's health insurance market," said Andrew Stolfi, insurance commissioner and Department of Consumer and Business Services director. “It has led to lower rate increases each year, more carriers expanding their coverage statewide, and more health insurance options for Oregonians in every corner of the state."
The division has issued final decisions for six companies in the individual market with average rate changes ranging from a 0.9 percent decrease to a 4.9 percent increase, for a weighted average of 1.5 percent. Under the decisions, Silver Standard Plan premiums for a 40-year-old in Portland would range from $450 to $505 a month.
Small group market
In the small group market, the division issued final decisions for nine companies with average rates ranging from a 3.3 percent decrease to a 3.4 percent increase, for a weighted average of 1.5 percent. Under the decisions, Silver Standard Plan premiums for a 40-year-old in Portland would range from $343 to $395 a month.
2022 health insurance rate request chart
Facts for 2022:
- All 36 Oregon counties will have at least four health plan options for its residents.
- The Oregon reinsurance program continues to help stabilize the market – lowering rates by 6 percent for the fourth straight year.
- Medical costs continue to rise, driven by increased use and the cost of new specialized prescription drugs.
- The health rates include an adjustment for
House Bill 2623 which limits cost-sharing for health plan coverage of insulin prescribed for treatment of diabetes.
Final decisions for each carrier can be found at oregonhealthrates.org. Statewide premium comparison tables for ages 21, 40, and 60 will be posted online in September.
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