July 27, 2021
The Alabama Department of Insurance originally posted this information on Friday, July 23, 2021, as an Insurance News Item.
The Affordable Care Act (ACA) requires that insurers planning to increase plan premiums submit their rates to the Alabama Department of Insurance for review.
The rate review process is designed to improve insurer accountability and transparency. It ensures that experts evaluate whether the proposed rate increases are based on reasonable cost assumptions and solid evidence. The ACA also requires that a summary of rate review justifications and results be accessible to the public in an easily understandable format. The Federal HealthCare.gov Rate Review website is designed to meet that mandate. For more information, see https://ratereview.healthcare.gov/.
The information is provided in the tables below. The rate changes are being proposed and reviewed by the Alabama Department of insurance (ALDOI). As soon as they are final, they may be purchased on the Federal Exchange or through private agents and brokers. The programs will be effective beginning on January 1, 2022.
PROPOSED RATE CHANGES FOR AFFORDABLE CARE ACT POLICIES
IN THE INDIVIDUAL MARKET
See Attachment for changes proposed to be effective January 1, 2022
- HealthCare.Gov Open Enrollment Begins November 1
- Governor Ivey Issues Narrow COVID-19 State of Emergency Declaration Providing Flexability to Heathcare Providers
- ACA Rate Changes for Alabama Policies in the Individual Market
- Roth IRA - Use of DISC to Exceed Contribution Limit
- Restaurant Revitalization Grants Included in New Aid Package