Tuesday, October 20, 2020
Breaking News

Record low average rate decrease for Washington’s 2020 individual health insurance market

From the Office of the Insurance Commissioner

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler has approved a record low average rate decrease of
-3.25% for Washington’s 2020 individual health insurance market. Two new health insurers – PacificSource Health Plans and Providence Health Plan – are also entering the market.

“Despite the Trump administration’s effort over the last two years to sabotage the Affordable Care Act, the record average rate decrease and interest by insurers is evidence that our market is stabilizing,” said Kreidler. “We have more work to do to lower the cost of health care and to help lower out-of-pocket costs, but more choice and lower premiums are welcome news.”

Open enrollment for the individual market runs Nov. 1 – Dec. 15. Consumers can shop for plans in Washington’s Exchange (www.wahealthplanfinder.org). Find 2020 individual plans and premiums.

Approximately 248,000 people who don’t get coverage from their employer must buy their own health insurance through the individual market, with most shopping on the Exchange. In Washington, 65% of people who buy plans on the Exchange qualify for subsidies that help lower their monthly premiums.

Click here to view rate changes

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