NECMF

Nov 6, 2015 1:21 PM

Insurance department discusses health care costs trends

The Associated Press

CONCORD — An analysis of health insurance premiums in New Hampshire shows relatively small increases for small and large businesses, while rates in the individual market went up significantly more.

State law requires the Insurance Department to hold an annual hearing on health insurance costs. At Friday's hearing, consultants who analyzed 2014 data said average premiums in the small group market increased 1.4 percent from 2013 to 2014. For large groups, the increase was 3.8 percent, and in the individual market, the increase was 23.6 percent.

Most of that increase is attributed to the influx of older, sicker consumers getting coverage under the Affordable Care Act. But the increase doesn't take into account that many individuals receive subsidies that make coverage more affordable.

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