Obamacare Premiums Hold Steady as Profits Outweigh Covid Costs

Insurers’ proposed Obamacare premiums for 2021 reflect mostly modest increases—or even decreases—despite the threat of Covid-19.

An actuary who helped state regulators review about 50 premium rate filings in eight states found the proposed increases generally ranged from 1% to 5% compared with 2020 rates.

However, some rate requests were higher than 25% in New York, where the virus hit hard early in the year, said David Dillon, senior vice president and principal of actuarial consulting firm Lewis & Ellis Inc. in Allen, Texas.

Dillon pegged average increases at 2% to 3% overall.

Health insurers still face great uncertainty ...