MIAMI (AP) — Florida's insurance officials said Tuesday that health insurance rates will rise an average of 5 to 20 percent for small businesses and 30 to 40 percent in the individual market through the state's new exchange under the federal health law.
But officials said those increases are partly due to the fact consumers will receive more benefits, and the higher costs will be offset by federal subsidies in many cases.
Some of the state's largest individual health insurers, including Florida Blue and Cigna, will be among 11 plans competing through the exchange in the individual market and five insurers will offer plans in the small group market. The Office of Insurance Regulation declined to disclose details of the premiums, saying the figures would be released this week. But some of the rates from individual insurers will increase as much as 80 percent.
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