Most Health Insurers Raise 2016 Florida Obamacare Rates
Follow CBSMIAMI.COM: Facebook | Twitter
FORT LAUDERDALE (CBSMiami/AP) —Floridians will see a hike in insurance premiums for Obamacare this year.
The hikes weren't as big as they could have been because state regulators used new authority to negotiate lower rates.
The Office of Insurance Regulation revealed Wednesday that Aetna requested a 21 percent increase for plans sold in 2016, but the agency only approved 14 percent, while Coventry requested a 16 percent hike and was approved for 8 percent.
This is the first year the state had the power to negotiate Affordable Care Act rates with health plans.
The Obama administration sent a letter to state insurance officials last month encouraging them to keep affordability as a priority during rate negotiations.
Florida's increases aren't staggering as health insurance rates rose as much as 20 or 30 percent before the exchange launched.
(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)