Health insurers seek rate increases as Missouri readies for regulatory authority

Health insurers are planning to raise premiums for individual plans in Missouri in 2017 — and some price hikes may be substantial, according to filings with the federal government.

In the St. Louis area, Coventry is seeking the biggest increase: a 21 percent premium hike that it says will affect about 133,500 Missourians. Coventry was acquired by health insurance giant Aetna in 2013.

Elsewhere in the state, even bigger price hikes — some as high as 34 percent — are planned by Humana in Kansas City, Blue Cross Blue Shield of Kansas City and Cox Health Systems Insurance Company in Springfield.

But starting next year a dramatic shift will occur. For the first time, the state of Missouri will have the power to review what health insurers plan to charge consumers, taking that duty away from the federal government, which some have criticized for its lack of transparency.

Read more: http://www.stltoday.com/business/local/health-insurers-seek-rate-increases-as-missouri-readies-for-regulatory/article_76a9cd87-b91a-5741-9cc3-69acb24b0df3.html