Controlling Premiums

Rising health insurance premiums are major concern nationally and Rhode Island is no exception. Among the factors driving health insurance premiums, none is more significant than medical costs.

Approximately 79-89 cents of every fully insured commercial premium dollar goes towards paying medical claims submitted to a Rhode Island insurer by a service provider.

The challenge for the Office is to balance its competing statutory purposes to ensure the solvency of insurers while protecting consumers.

June 11, 2009
OHIC to hold Open Meeting for Public Comment on Proposed Commercial Health Insurance Rate Factors

January 22, 2009
Health Insurance Cost Drivers

So why does health insurance cost so much in the U.S.? Here are two recent analyses - one that compares U.S. expenses to other countries, and a second that suggests reforms that policy makers in Massachusetts might consider if they are to sustain their ground-breaking reform efforts. Both offer lessons for us in Rhode Island, as we confront rising insurance premiunms.

OHIC and the Health Insurance Advisory Council continue to work on health insurance affordability - carefully reviewing any health plan requests for rate increases - making sure requests are justified - and having health insurers invest in the primary care system in the state.

The McKinsey Quarterly (external)

Solving the Long-Run Cost Problem (external)

 

October 2008

OHIC is working to improve chronic illness care in Rhode Island through the CSI Pilot Program.