Oregon consumers can get a first look at requested rates for 2025 individual and small group health insurance plans, the Oregon Department of Consumer and Business Services (DCBS) announced today.

In a major win for Oregonians, Moda will become the fifth company to offer health insurance in every single county in Oregon after expanding into Benton, Linn, and Lincoln counties. Moda joins BridgeSpan, PacificSource, Providence, and Regence as health insurance companies who provide coverage in all parts of Oregon. It is the first time that five insurers have offered plans in every county.

In the individual market, six companies submitted rate change requests ranging from an average increase of 5.0 percent to 11.6 percent, for a weighted average increase of 9.3 percent. That average increase is higher than last year’s requested weighted average increase of 6.2 percent.

In the small group market, eight companies submitted rate change requests ranging from an average increase of 5.7 percent to 16.3 percent, for a weighted average increase of 12.3 percent, which is higher than last year’s requested 8.1 percent average increase.

The Oregon Reinsurance Program continues to help stabilize the market and lower rates. Reinsurance lowered rates by 8.4 percent.

The chart for the full list of rate change requests is available on the DFR website.

“Oregon’s health insurance market remains competitive, with five carriers planning to offer plans next year in every Oregon county, up from only one statewide plan in 2018,” said Oregon Insurance Commissioner and DCBS Director Andrew R. Stolfi. “Unfortunately, inflation – both medical and nonmedical – as well as prescription drug costs, are driving prices higher than last year. Oregonians still have a lot of options to choose from and the Oregon Reinsurance Program continues to allow them to find reasonable rates.”

Virtual public hearings about the 2025 requested health insurance rates will be held July 1 from 9 a.m. to noon. A web address to watch the public hearings will be posted at OregonHealthRates.org. At the hearings, each insurance company will provide a brief presentation about its rate increase requests, answer questions from Division of Financial Regulation (DFR) staff, and hear public comment from Oregonians. The public also can comment on the proposed rates at any time at OregonHealthRates.org through July 1.

“We look forward to putting these rate requests through a rigorous public review, and we encourage the public to join the virtual public hearings and provide feedback on their health insurance plans,” Stolfi said. “This public process not only helps keep insurance companies accountable, but it gives people the opportunity be part of the process.”

The requested rates are for plans that comply with the Affordable Care Act for small businesses and individuals who buy their own coverage rather than getting it through an employer.

Over the next two months, the division will analyze the requested rates to ensure they adequately cover Oregonians’ health care costs. DFR must review and approve rates before they are charged to policyholders.

Preliminary decisions are expected to be announced in July, and final decisions will be made in August after the public hearings and comment period ends.

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About Oregon DFR: The Division of Financial Regulation protects consumers and regulates insurance, depository institutions, trust companies, securities, and consumer financial products and services. The division is part of the Department of Consumer and Business Services, Oregon’s largest consumer protection and business regulatory agency. Visit DFR.Oregon.gov and oregon.gov/dcbs.