BATON ROUGE, La. (AP) — Many Louisianans with health insurance through the Affordable Care Act’s individual exchange are set to see premiums drop.
The Advocate of Baton Rouge reports premiums are expected to drop by an average of 6.9 percent next year.
The Louisiana Department of Insurance revealed expected rates Wednesday that show declines ranging from 4 percent to more than 15 percent.
The decline comes after years of rate hikes for the more than 100,000 Louisianans insured through the individual exchange.
Louisiana’s largest insurer, Blue Cross and Blue Shield of Louisiana, and Vantage Health Plan are the only insurers in the state to offer health plans on that exchange.
Vantage Health Plan spokesman Billy Justice says the market is stabilizing. The drop also follows Blue Cross posting a $59 million profit in the individual exchange in 2017.