Indiana: *Final* avg. unsubsidized 2024 #ACA rate changes: +2.1%

Originally published on 7/11/23

via the Indiana Dept. of Insurance:

INDIANA 2024 ACA FILINGS

The companies listed below have submitted ACA-compliant rate filings for Plan Year 2024. Information about the filings may be found at the IDOI SERFF Filing Access or Healthcare.gov Rate Review.

The IDOI will finalize its review of the 2024 ACA compliant filings both on and off the federal Marketplace by August 17, 2023. The Centers for Medicare and Medicaid Services (CMS) will issue the ultimate approval for the Marketplace plans sold in Indiana. CMS will issue its approval on or before September 20, 2023.

General Note:

Humana Insurance Company and Humana Health Plan Inc. are filing rates for groups who choose to renew for a short plan year. Groups renewing in first quarter 2024 will receive a six-month plan year renewal, while groups renewing in 2nd quarter 2024 will receive a three-month plan year renewal. The plan associated with each filing will only be available for renewals during 1Q24 and 2Q24.

Indiana has unusually low 2024 individual market rate increase requests from the states I've analyzed so far, coming in at just 2.1% weighted. It even has one carrier asking for slight rate reductions (Anthem). It's also worth noting that Aetna Health Inc. is newly entering the Indiana individual market next year.

UPDATE 10/03/23: No press release, but I checked the SERFF database and all six individual market carrier filings appear to have been approved as is with only one slight tweak--Cigna was shaved down by 1/10th of a point from 11.7% to 11.6%.