California Exchange Insurers File Record-Low Rate Requests for 2021
In its initial release of requested rate increases from insurers, Covered California, the state’s Affordable Care Act (ACA) exchange, announced a state record-low average rate increase of 0.6% for the individual market. In an Aug. 4 conference call with reporters, Covered California Executive Director Peter Lee also touted expanding payer competition on the exchange and growing enrollment.
The year’s marginal rate increase follows a similarly low increase of 0.8% for 2020, and comes in spite of the state’s many worsening COVID-19 outbreaks. California officials have positioned expanding health coverage as a critical part of the state’s response to the pandemic.