For Nearly Everyone in RI, Their Cost of Health Insurance Is Going Up in 2022

For Nearly Everyone in RI, Their Cost of Health Insurance Is Going Up in 2022

Rhode Island’s Office of the Health Insurance Commissioner (OHIC) announced Thursday the approval of commercial health insurance premiums nearly across the board for 2022. 

Some increases were as high as 7.7% -- and in only one instance was there a decrease from what was requested. 

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Health Insurance Commissioner Patrick Tigue claimed a victory however, stating that the office rejected what had been originally requested by insurers, and "all charges for profit and contributions to reserves in the 2022 rates that were filed with OHIC in May 2021 for review."

Overall, the large group market saw a 5.4% increase approved; the small group market saw a .3% increase.

"Rhode Islanders will save $41,680,000 in 2022 compared to what the commercial health insurers requested," stated OHIC in their release. 

“As Rhode Islanders confront significant threats to their health and financial well-being due to the spread of COVID-19, my responsibility is to limit the burden of the cost of health insurance within the standards for review and approval set forth by law,” said Tigue. "Given the strong reserve positions of health insurers operating in the state, I did not believe that charges for profit and contributions to reserves for 2022 were consistent with the proper conduct of the insurers’ business or consistent with the public interest.”

Rhode Island Attorney General Peter Neronha announced earlier in August that his office filed objections to the proposed health insurance rate increases in 2022 with the Office of Health Insurance Commissioner (OHIC).

Neronha's office did not respond to request for comment at time of publication if he supported -- or rejected -- the approved increases.