“Not for public disclosure”

The state of Oregon has done something groundbreaking — and it may be a boon to health insurance consumers everywhere. Oregon’s Insurance Division recently started publishing health insurance rate filings online. What does this mean? Any member of the public now has online access to previously confidential information about rate hikes that insurance companies are requesting from the state. This new transparency gives more power to consumers.

What’s Being Published?
The Oregon Insurance Division reviews the rates for individual policies, portability plans and health plans from employers that have anywhere between 2 and 50 employees. Insurance companies request approval for rate increases from the Insurance Division — and now these requests are made available to the public. “Ratings territories,” which show relative cost variations based on where you live, are also revealed.

What happens if you search for a rate filing? You’ll discover the rate increase insurance companies are proposing along with a wealth of other information. For example, you can find out how much insurance companies are spending on everything from marketing to salaries. A number of factors may affect your rates, and these filings give you the inside scoop on those factors.

Insurance companies aren’t keen on making this information public. In fact, some filings from Aetna are marked “NOT FOR PUBLIC DISCLOSURE.” Oregon has handed power back to the consumer by making this information available. Will other states follow?

Oregon also allows consumers to offer comment on the health insurance rate filings. Knowing that requested rate hikes will be open to public discussion may change the way insurance companies consider making rate changes.