How did the State calculate the 72% increase in individual insurance costs in 2014?
Published 08/06/2013 02:29 PM | Updated 08/06/2013 02:29 PMHow did the State calculate the 72% increase in individual insurance costs in 2014?
First, we began with the average “per member per month” cost for 2012, which is based on actual filings submitted to the DOI by Indiana health insurance companies. We then compared this number to average “per member per month” cost for 2014 filings. After subtracting normally expected cost increases or “trend” costs, we arrived at a 72% average cost increase for 2014. This is the increase amount in insurance costs directly attributable to the ACA.
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