Neighborhood Health Plan of RI Proposes Lowest Commercial Health Insurance Rates

GoLocalProv Business Team

Neighborhood Health Plan of RI Proposes Lowest Commercial Health Insurance Rates

Peter Marino on GoLocal LIVE
Neighborhood Health Plan of Rhode island is seeking state permission to offer the lowest-cost health insurance plan for the state’s individuals, families, and small businesses purchasing coverage via HealthSourceRI.

“Neighborhood’s mission is to make sure that everyone in our state has access to high-quality, affordable health care, and keeping our rates as low as possible helps us do that. People shopping for health insurance on the state’s exchange will find Neighborhood offers a wide range of options to meet their needs, and every option is the most affordable one in its category,” said Peter Marino, Neighborhood’s President and CEO.

Neighborhood submitted its rate proposals to the state’s Office of the Health Insurance Commissioner (OHIC) in June. 

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If approved by the state, Neighborhood’s new rates take effect January 1, 2018.

Seeking Rate Approval

Neighborhood has requested a 5.0 percent increase for its individual and family plans.  It has also asked permission to increase its Small Business plans (between 2 – 50 employees) by an average of 5.8 percent.

“Excessive price increases for medicines are far outpacing inflation in other areas of healthcare cost such as hospital days and physician costs. We have experienced several years of increases in excess of 10 percent for essential medications, including insulin, which have been around for decades.  These price increases are, in our opinion, unjustified and are the major driver of premium increases.  We are working with state and federal regulators to try to get this situation under control,”  said Dr. Francisco “Paco” Trilla, Neighborhood’s Chief Medical Officer.

More than 54% of Rhode Islanders who purchase coverage on HealthSourceRI, chose Neighborhood.


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