Oregon insurer proposes double-digit premium cut

One health insurance company on Oregon’s ObamaCare exchange is proposing to lower premiums an average of 16 percent next year, according to a report.

The other two carriers — Regence BlueCross Blue Shield and Kaiser — are proposing negligible increases of less than 5 percent and 0.2 percent, respectively.

{mosads}The rates were reported by the Portland Business Journal on Tuesday. They come as state officials around the country begin to shed light on what consumers might pay on ObamaCare’s exchanges next year.

In most states, including Oregon, proposed rate changes must be approved by state regulators and will affect consumers differently based on age, plan and location.

The insurer proposing a 16 percent rate decrease in Oregon is Providence Health Plan, which said it is cutting prices because its customers are expected to bill less for medical care than once anticipated.

“This proposed decrease also is consistent with our business objectives and our desire to provide more people with access to health care services,” spokeswoman Olivia Ramos told the Business Journal.