Insurance rate hikes sought in federal marketplace

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BATON ROUGE, La. (AP) – Thousands of people who bought health insurance through the marketplace created by the federal health care overhaul face price hikes next year that could reach double-digits.

More than 50,000 policyholders who get health insurance through the individual marketplace – which was expanded by the federal Affordable Care Act – are in line for rate increases topping 10 percent on Jan. 1 if they keep their current policies.

That’s according to paperwork filed with Louisiana’s insurance department.

Louisiana Insurance Commissioner Jim Donelon says the average rate increase planned in the state’s individual market for health insurance next year is about 12 percent to 13 percent.

Insurance officials say the increases are larger than the type of price hikes enacted annually before the federal health care law was put in place.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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