SALT LAKE CITY (AP) — More than half a dozen health insurers in Utah say they need to raise rates on individual policies next year by 10 percent or more because of higher than expected care costs and other expenses.
The proposed hikes affect plans offered through the federal health insurance website, a key element of President Barack Obama's health care law, and on individual plans sold directly by brokers and agents.
That's a small portion of the total market, where many more people get insurance through their jobs.
Insurers in Utah and around the country explain the double-digit increases by pointing to new customers who went without coverage or treatment for years, rising costs of prescription drugs, and other expenses.
The proposed rate increases and company explanations were posted on the federal government's healthcare.gov website this week.
