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California PPACA rates to rise 4.2% in 2015

Health care plan premiums will rise an average of 4.2 percent next year in Californias insurance exchange, the largest Obamacare market in the U.S., state officials said.

By Alex Wayne | Updated on July 31, 2014
California Insurance Commissioner Dave Jones (AP Photo/Rich Pedroncelli)

(Bloomberg) — Health care plan premiums will rise an average of 4.2 percent next year in California’s insurance exchange, the largest Obamacare market in the U.S., state officials said.

The increase is considered low by officials at Covered California, the authority that runs the state’s exchange, who said many customers would see a decrease or no change. Californians saw premium increases this year, the first year plans were available under Covered California and other exchanges, that averaged as much as 88 percent, according to the state insurance department.

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