Oregon Health Insurance Market Annual Update
Annual Oregon Health Insurance Market Update
The following contains information for our NAHP Alternative Health Plan Solutions and ACA/Obamacare plans for individuals and small businesses in the state of Oregon.
Oregon Alternative Health Plan Solutions Updates
NEW OPTION: As I mentioned in my Federal market update, I have recently come across a set of health plans that will work well for certain people in Oregon. These plans are comprehensive coverage and compliant with ACA/Obamacare mandates. They also utilize a nationwide PPO network, so they offer a much better choice of providers than most ACA/Obamacare plans. All plans have a maximum out of pocket limit that will be $2,100 per year LESS than the maximum out of pocket for 2024 ACA/Obamacare plans. The standard rates for these plans are competitive with the full price without a subsidy on current, similar ACA/Obamacare plans for people in the 45-64 age range who do not qualify for a tax credit subsidy to purchase ACA/Obamacare plans. If you fit this criterion, please reach out to me to see if one of these plans might be a better option for you.
IMPORTANT NOTE: All non-ACA/Obamacare alternative plans are available year-round. For both individuals and small groups. There is NO limited (open enrollment) period for these options.
Individual Alternative Plans
For those who don’t qualify for a federal tax credit subsidy to help pay for an ACA/Obamacare plan, we offer the following “health insurance buffet” of alternative plans.
For our Primary Fixed Benefit plans we now offer the following:
Manhattan Life – Manhattan Life Affordable Choice 18 fixed benefit plan. NOTE: The Affordable Choice 18 plan has the BEST inpatient hospital coverage of any fixed benefit plan available today.
Philadelphia American – Health Choice Select and Health Saver Plus III fixed benefit plans.
As noted on our Oregon state page, our other Primary plan option – Short Term Medical (STM) plans are limited by state law to duration’s of no more than 90 days per policy. Because of this we aren’t recommending that they be used in our alternative plan packages at this time. However, we do offer the following STM plan companies for up to 3 month terms as needed:
National General – Includes their STM plans with multiple deductible/coinsurance options for up to 12 months. Plans use the Aetna nationwide PPO networks.
Pivot Health – Includes their Classic STM plans that have unique “No Network” options.
Our Supplemental Plan lineup has expanded and improved:
REMINDER NOTE: All these supplemental plans pay in addition to ANY other coverage you have. So, they are NOT just for our alternative “buffet” plans. They can reduce/eliminate out of pocket costs (plus provide additional cash for bills and other costs) of ANY primary health plan (group, individual, Medicare, etc.)
Accident Plans – In addition to accident supplemental plans from all our Primary plan companies (above), we offer separate LifeSecure Accident plans.
Critical Illness Plans – Again, along with plans from all our Primary plan companies, we offer separate LifeSecure Critical Illness plans.
Cancer and Dread Disease Treatment – BEST VALUE – The new addition to our alternative “buffet“ package is the Manhattan Life Cancer Care Plus plans. These plans give a HUGE boost by paying for actual treatment costs for Cancer and many other Dread Diseases.
Hospital Stay Protection – We offer plans from companies such as Surebridge, LifeSecure, Medico, and Washington National.
Preventive Care Plus Plans – For those who want the MOST comprehensive coverage for preventive care plus other outpatient services, we have the Enrollment First SelectMed. There are 3 options Base, Pro and Max.
NOTE: You can also combine one of the above Fixed Benefit plans together with Accident, Critical Illness, Cancer Treatment, Hospital Indemnity and Preventive Care (Plus) plans and create a comprehensive plan that will still be at least 15-20% LESS than a high deductible ACA/Obamacare plan!
More information on all plans above can be found on each company’s page on our website and on our US Supplemental Coverage page.
Small Group Alternative Plans
In addition to the three companies we already have (Allstate Benefits and Trustmark), we have another company that has previously provided only fully insured plans to small businesses…United Healthcare and Aetna.
All the above options provide cost-saving, level funded alternative group health plans. Level funded plans can be a BETTER option for many businesses than the “one size fits all” ACA/Obamacare small group health insurance plans. Level Funded plans can provide upfront savings of 10-20%, the same fixed monthly premium as fully insured and the potential for a refund at the end of the plan year. All while providing the same or better coverage as you are used to with a fully insured plan.
If you own, or work for a business with 5 to 50 employees covered on a “traditional,” fully insured group health plan, and believe the covered group members to be reasonably healthy overall, then it might be time for your company to explore a level funded plan.
To get quotes on a level funded group health plan, please schedule a call with us to review your situation. We will also need you to fill out our Group Census spreadsheet and email it to: robtavis@ushealthinsurancesolutions.com.
Oregon 2024 ACA/Obamacare Health Insurance Market Updates
Individual Plans
For 2024 coverage, six insurers offer plans through Oregon’s exchange.
The participating insurance companies are proposing average rate increases from 4% to 9% for plans in 2024.
In Oregon, the 2024 Open enrollment begins on November 1, 2023 and ends on January 15, 2024. A health plan must be purchased by December 15, 2023 to have coverage effective January 1, 2024. Plan purchases from December 16, 2023 to January 15, 2024 will start on February 1, 2024.
Small Group Plans
As with many states there is not much “new” to report with ACA/Obamacare small group plans in Oregon.
Oregon 2024 ACA/Obamacare Rate review:
Oregon 2024 Preliminary Rate review:
NOTE: Final approved rates are not readily available at the time of this writing. We will do our best to update this page with the approved rates as soon as we can.
Oregon preliminary 2024 individual plan rate filing requests are as follows:
Bridgespan Health – requested an average increase of 8.36% varying by plan type (not finalized yet)
Kaiser Permanente – requested an average increase of 7.78% varying by plan type (not finalized yet).
Moda Health Plan – requested an average increase of 3.92% varying by plan type (not finalized yet)
PacificSource Health Plans – requested an average increase of 3.29% varying by plan type (not finalized yet)
Providence Health Plans – requested an average increase of 8.9% varying by plan type (not finalized yet)
Regence Blue Cross Blue Shield of OR requested an average increase of 4.94% varying by plan type (not finalized yet)
Oregon small group market rate filing requests look like this
Health Net of OR – requested an average increase of 4.45% varying by plan type (not finalized yet).
Kaiser Permanente – requested an average increase of 7.65% varying by plan type (not finalized yet).
Moda Health Plan – requested an average increase of 1.94% varying by plan type (not finalized yet)
PacificSource Health Plans – requested an average increase of 9.39% varying by plan type (not finalized yet)
Providence Health Plans – requested an average increase of 12.27% varying by plan type (not finalized yet)
Regence Blue Cross Blue Shield of OR requested an average increase of 5.95% varying by plan type (not finalized yet)
United Healthcare – requested an average increase of 7.15% varying by plan type (not finalized yet)
Oregon 2023 ACA/Obamacare Approved Rates:
Oregon individual plan approved rate filings are as follows:
Bridgespan Health – Received an average increase of % varying by plan type
Kaiser Permanente – Received an average decrease of % varying by plan type
Moda Health Plan – Received an average decrease of % varying by plan type
PacificSource Health Plans – Received an average increase of % varying by plan type
Providence Health Plans – Received an average increase of % varying by plan type
Regence Blue Cross Blue Shield of OR Received an average increase of % varying by plan type
Oregon small group market approved rate filings look like this:
Health Net of OR – Received an average increase of % varying by plan type
Kaiser Permanente – Received an average increase of % varying by plan type
Moda Health Plan – Received an average increase of % varying by plan type
PacificSource Health Plans – Received an average increase of % varying by plan type
Providence Health Plans – Received an average increase of % varying by plan type
Regence Blue Cross Blue Shield of OR Received an average increase of % varying by plan type
United Healthcare – Received an average increase of % varying by plan type
US Healthcare Resources and Shopping Services
I invite you to go to my US Healthcare Resources page and spend some time going through all of the different tools, services and providers that are available to help you become a better health care consumer. I believe these resources can help you lower your overall health care costs no matter what primary health insurance you have.
U.S. Insurance Solutions is here to help
Remember, you are NOT in this alone…I am here to help! As your Personal Health Insurance Advisor, my goal is to make your life easier by taking the hassle out of finding the right health plan for your situation and needs.
To discuss your health insurance options and make sure you have the best possible health plan for your situation, please go to the link above with the image that says CALL ME and schedule a call with me on a day and time that works for you, and I will call you to review your options.