2023 regulated rates for health, dental, and small group insurance plans in Delaware are not seeing the sharp increases seen elsewhere.
Long-time Affordable Care Act plan provider Highmark will increase rates an average of 5.5%. But its rates are down about 10% over the past 4 years.
The increase is not as steep here in part because American Rescue Plan Act subsidies were extended through 2025, via the Inflation Reduction Act. ACA subsidies lower consumer costs.
And two new health insurers - Aetna CVS Health and AmeriHealth Caritas join the state’s Marketplace for 2023, creating more options and competition.
There are also small increases in some returning off-market small group plans, including the highest rate increase in the state at 7.6%.
“But all-in-all, in comparison to other states, increases are very low. Many states are seeing increases of double digits largely because of rising prescription costs and hospital costs,” says Chris Haas, Senior Policy Advisor for the Delaware Department of Insurance.
She adds another reason Delaware rates are more stable is the hospital price growth law, which working with the Office of Value-Based Health Care Delivery caps hospital price growth and boosts investment in primary care.
Open Enrollment is November 1 through January 15. And Haas says consumers need to be wary of the flood of information they’ll receive during that period
“Unfortunately that will include some less than reputable health plans that offer little-to-no coverage and are not regulated through the ACA,” said Haas. “So we urge residents to stay vigilant, don’t respond to contact that you did not initiate, and use that verified local navigator to find the right plan for your needs.”
30 plans are available to Delawareans for the 2023 plan year.
Delaware saw a nearly 27% increase in ACA enrollment this year - its largest-ever yearly increase.
