Pennsylvania Insurance Department Releases Rates

The Pennsylvania Insurance Department has approved its rates for the 2027 Affordable Care Act insurance premiums. The rate approvals cover both the individual and small group health insurance markets. According to the PID, Pennsylvanians that buy their own insurance will see an average increase of 15.97%. Small businesses will see an average increase of 10.28%. Pennsylvania Insurance Commissioner Michael Humphries cites health care cuts by the federal government as the main driver of the spike in premiums. Contributing to the rise in rates are rising costs, the use of prescription drugs, and medical care. PID says that consumers should shop around on Pennie, the state’s official health insurance marketplace. They say that no two circumstances are alike. Premiums are decided on several factors such as age, location, household income, family size and market competition. Pennie also offers financial assistance to help lower monthly premiums and out of pocket costs. Open enrollment on Pennie is approaching. The enrollment period is November 1 through December 15 for coverage that will start on January 1, 2027. For information visit pennie.com or call 1-844-844-8040.