Rhode Island approves 2027 health insurance rate increases as Neronha renews call for reform
State regulators approved average increases of 4.9% for Blue Cross Blue Shield of Rhode Island and 15.8% for Neighborhood Health Plan of Rhode Island for plans people buy on their own. Attorney General Peter F. Neronha called the increases unsustainable.
Rhode Island's Office of the Health Insurance Commissioner approved average rate increases of 4.9% for Blue Cross Blue Shield of Rhode Island and 15.8% for Neighborhood Health Plan of Rhode Island for 2027 individual-market plans, according to a statement issued Sept. 29 by Attorney General Peter F. Neronha.
Neronha said the approved increases were slightly lower than those the insurers sought. He said they "remain unsustainable for Rhode Islanders struggling to afford basic goods like food, housing, and energy."
The attorney general's office had filed objections to the requested increases and urged the commissioner to reject them, arguing they were unaffordable for consumers, Neronha said. During the rate review, his office brought in a health care economist to testify that the insurers had failed to meet their burden in defending the proposed increases and to describe the potential economic harm to Rhode Islanders, according to the statement. The office also offered policy proposals it said would help curb annual premium growth.
Neronha said the cost of health insurance in Rhode Island continues to rise faster than wages, despite what he described as widespread shortfalls in access to care. He said insurers were enjoying "ever-increasing profits" while consumers bore the cost of policy shortcomings.
Neronha called for "bold, collaborative reform" of the state's health care system, which he said was the only way to provide accessible, affordable and high-quality care.
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