Rhode Island Regulators Approve 2027 Health Insurance Rate Hikes, Attorney General Expresses Affordability Concerns
The Office of the Health Insurance Commissioner (OHIC) in Rhode Island has approved average health insurance rate increases for the individual market in 2027. Blue Cross Blue Shield of Rhode Island's individual enrollees will face an average increase of 4.9%, while Neighborhood Health Plan's enrollees will see an average increase of 15.8%. These approved rates are significantly lower than the initial requests made by the insurers in May, with Blue Cross originally seeking 9.8% and Neighborhood 24.9%. OHIC estimates that its cuts across all markets will save Rhode Islanders $86.7 million in 2027 compared to the initial requests. Despite these reductions, Attorney General Peter Neronha, whose office opposed the proposed hikes, stated that the approved increases remain unaffordable for many residents. The individual market covers 50,693 Rhode Islanders, with Neighborhood Health Plan covering more than twice as many people as Blue Cross. Open enrollment for 2027 plans will begin on November 1 and run through J...
