Health insurance premiums continued to grow in 2011 but at slower rates than in recent years, according to the Department of Consumer and Business Services (DCBS) annual report on Health Insurance in Oregon.Many insurers reported lower-than-expected medical claims in 2011, slowing growth in health insurance rates in the individual and small employer markets. The average annual rate increase in the small group market was 6.6 percent in 2011, down from nearly 11.7 percent in 2010.
In a press release, acting department Director Patrick Allen said: "Oregon has among the most competitive insurance markets in the country and that helps ensure that a high percentage of premiums go for health care versus administration and profit,"
A key change in insurance regulation started in fall 2011 when the DCBS Insurance Division began conducting public hearings on most rate requests. Starting this month (February) the department will stream hearings live. Details will be available at on the web, at www.oregonhealthrates.org. Click on "public hearings."
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