The 2024 preliminary individual health insurance rates in Washington State have just been released (which is usually very close to final rates). They also had to deal with the increased Covid-19 costs of hospitals paying workers much more and higher overhead, so the rate increases could have been much worse (as they are in other states). Trying to give some good news. Most carriers are not raising prices as much as prior years, woo hoo! It really depends on your individual situation for which carrier works best for your needs, doctor network and hospital facilities you want to have access to. The finalized rates should be out by October 1st.
In general we recommend most people to stay on the same carrier from year to year unless there is a specific situation of having more or less expenses or changing doctors or hospital networks. We will reach out closer to Open Enrollment with more information on carrier changes. Open Enrollment is from Nov 1st to Dec 15th for a January 2023 start date.
Proposed 2024 Individual Health Insurance Rate Increases:
- Premera 15.8%
- Regence 4.5%
- LifeWise 7.8%
- AM Better 5.2%
- Molina 6.4%
- Kaiser Permanente 17.9%
- United Healthcare = 2.8%
However, this does not take into account your age change. We all get one year older each year, yes it’s true, and that also causes the price to increase until you turn 65 and need Medicare. We can also help with Medicare. If you have any questions please give us a call at 425-802-2783.
Gary Franke & Tamara Chandler
Independent Broker
Achieve Alpha Insurance LLC
12505 Bel-Red Rd, Ste 106
Bellevue, WA 98005
425-802-2783 (call or text office line)
health@achieve-alpha.com
www.achieve-alpha.com