Firms propose premium hikes in health insurance marketplace

Updated 1:48 pm, Monday, August 14, 2017

TRENTON, N.J. (AP) — Two insurers are proposing higher premiums for New Jerseyans who buy coverage in the federal health insurance marketplace created by the Affordable Care Act.

Horizon Blue Cross Blue Shield of New Jersey has proposed raising premiums next year by 22 percent on average, while AmeriHealth of New Jersey wants increases ranging from 6 to 59 percent. They are the only insurers offering such coverage, though another firm plans to return to the market.

Horizon cited the uncertainty about ongoing efforts to repeal or replace the health care law as a main reason for the proposed increase, which would be its largest price hike since the law went into effect.

AmeriHealth says nearly half of its proposed increase is driven by changes to health-care provider fees.

The proposed increases must be approved by the state Department of Banking and Insurance.

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