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South Dakotans buying health insurance via the Affordable Care Act exchanges will see premium hikes in 2015.
South Dakotans buying health insurance via the Affordable Care Act exchanges will see premium hikes in 2015.
Image by Michael Havens/Flickr
November 5, 2015

SD Insurors Increase Individual Premiums

The 73,000-or-so South Dakotans buying health insurance on the individual market will experience double-digit premium increases, including those buying through the Affordable Care Act exchange, reports the Associated Press

The biggest reported hikes are coming in plans that do not participate in the ACA exchange, where purchasers of insurance are eligible for federal subsidies. Dakotacare and Wellmark Blue Cross Blue Shield are planning premium increases of 63 percent and 43 percent respectively, affecting more than 19,000 policy-holders. Another group of about 36,000 Wellmark customers will experience 15 percent increases.

The two companies participating in the ACA exchange -- Avera Health Plans and Sanford Health Plan -- will experience increases of about 13 percent. 

Industry experts said the increases come after companies signed up populations that were sicker than expected and used high-priced prescription drugs and other healthcare services. 

Read more about health insurance coverage on the South Dakota Dashboard

 

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