Rates for Wisconsin plans on health insurance exchange to go up 16 percent

Premiums will go up an average of 15.9 percent next year for Wisconsin health insurance plans on the Affordable Care Act exchange, according to the state Office of the Commissioner of Insurance.

"While increases for Wisconsinites are lower than many other states, these rate changes and the recent exiting of numerous national carriers make it even more important for individuals to actively explore their health insurance options to ensure appropriate coverage," insurance commissioner Ted Nickel office said Friday in a statement.

Officials with the U.S. Department of Health and Human Services say most consumers won't have to face steep hikes themselves because the vast majority receive tax credits to help pay premiums and consumers can shop around for cheaper plans.

The premiums don't take into account deductibles, which can be thousands of dollars for some plans. This year, the median deductible is $850.

Read more: http://host.madison.com/wsj/news/local/health-med-fit/rates-for-wisconsin-plans-on-health-insurance-exchange-to-go/article_5ea9fb61-45b3-56f6-96b7-403658490731.html