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Oregon finalizes 2024 health rates for individual, small group markets; sees robust options in all counties

Sept. 5, 2023

Salem – The Oregon Division of Financial Regulation has finalized the rate decisions for 2024 health insurance for the individual and small group markets. The division reviews and approves rates for these markets through a detailed and transparent public process before they can be charged to policyholders.

The division hosted public hearings, took public comment, and – after careful consideration and a rigorous review – reached the final decisions announced today. The division published preliminary decisions in July before the public hearings. In the public hearings, members of the public, health insurance companies, and the division had the opportunity to further review and analyze the preliminary decisions.

“We know the cost of health insurance and medicine continue to rise due to circumstances out of people's hands," said Andrew R. Stolfi, Oregon's insurance commissioner and director of the Department of Consumer and Business Services. “We work hard to ensure consumers have multiple choices for coverage and to keep premium costs down as much as possible. We are fortunate to have the Oregon Reinsurance Program, which helps stabilize the market and leads to more options in every county across the state."

Oregon currently has at least five health care options for people to choose from in the individual market in all but one county. All 36 counties have at least four options. This is a big improvement from 2019 when 12 of Oregon's counties had three or fewer insurers in the individual market. The improvement is even better when factoring in the Health Insurance Marketplace. In 2019, only five counties had at least four companies selling marketplace coverage; today, that is all 36 counties. Also in 2019, 24 of the 36 counties had two or fewer marketplace plans for people to choose from.

“This is a testament to how far we've come in increasing access to comprehensive health care to as many people in the state as possible," Stolfi said. “We will continue to work to make health care accessible and affordable for all Oregonians."

Individual market
The division issued final decisions for six companies in the individual market with average rate changes ranging from a 3.5 percent increase to an 8.5 percent increase for an overall weighted average increase of 6.2 percent, which is a half percent improvement over last year's average of 6.7 percent. Under the decisions, Silver Standard Plan premiums for a 40-year-old in Portland would range from $467 to $537 a month.

Small group market
In the small group market, the division issued final decisions for eight companies with average rate increases ranging from 0.8 percent to 12.4 percent, for an overall weighted average increase of 8.1 percent, which was slightly higher than last year's average of 7.8 percent. Under the decisions, Silver Standard Plan premiums for a 40-year-old in Portland range from $387 to $459 a month.

2024 final health insurance rate request chart

Facts for 2024:

  • All 36 Oregon counties will have at least four health plan options in the individual market for its residents and 35 will have at least five. One-third of Oregon counties are offering six options.
  • The Oregon Reinsurance Program continues to help stabilize the market – lowering rates by nearly 6 percent for the sixth straight year.
  • Medical costs continue to rise due to inflation, increased use, and the cost of new specialized prescription drugs.

Final decisions for each insurance company can be found at


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 and

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Jason Horton