As Idaho works through the early stages of organizing its new state-based health insurance exchange, neighboring Washington is much farther down the road, and now has released the rate proposals from health insurance companies that plan to sell coverage on its state exchange. The big surprise: Expected large price increases didn’t materialize. Instead, most consumers who purchase insurance through the Washington exchange would pay less than they do now, and get more coverage. Only those under age 30 would face higher costs, and they’d have options for lower-priced catastrophic coverage. In addition, those who qualify for subsidies based on their income would pay less than the newly announced rates.
“We’re pleasantly surprised with the individual rates we’ve seen so far,” said Washington state Insurance Commissioner Mike Kreidler. “In many cases, people will get better benefits and pay less – especially if they qualify for subsidies.” Meanwhile, Idaho’s exchange is just getting organized. So far, the 19-member exchange board has met twice, elected officers, hired an executive director and established six subcommittees on everything from information technology to operations. It will function as an independent, quasi-governmental agency; it is working on plans to issue requests for proposals to establish its online portal and make the exchange operational by Oct. 1. You can read our full report here at spokesman.com.