Rhode Island approved higher commercial health-insurance premiums for 2027 on September 29, with regulators reducing the increases insurers had requested.

The Office of the Health Insurance Commissioner approved an average 12.4 percent increase in the individual market, 3.8 percent for small-group coverage and 9.5 percent for large-group coverage.

The office said its review reduced projected premiums by $86.7 million compared with the original requests. That figure is a comparison with proposed rates; premiums will still rise from their current levels.

Individual-market changes differ by insurer. The approved increase is 4.9 percent for Blue Cross Blue Shield of Rhode Island and 15.8 percent for Neighborhood Health Plan, according to the regulator's tables.

Rhode Island Current reported that insurers pointed to rising medical costs and pressure to increase payments to providers. Both companies said the approved rates presented challenges, while the commissioner described the review as an effort to address affordability alongside the insurers' financial obligations.

The approved rates apply to fully insured plans. They do not cover self-funded employer plans, in which the employer pays medical claims directly and may hire an insurer to provide administrative services.

The state's announcement also describes a new marketplace assistance program for eligible customers in 2027. A premium percentage alone therefore does not determine what each household will pay after any assistance. Consumers will need the details of their specific plan and eligibility.

Sources

ohic.ri.gov

Rhode Island Current