02 Aug Obamacare: NJ’s insurance premium rise

If you’re worried about rising insurance premiums, you have good reason. But for once, New Jersey won’t be the highest or most expensive hike.

Obamacare in New Jersey will see the lowest rate hikes in the nation, according to a recent report on APP.com.

It said Horizon Blue Cross Shield of New Jersey requested a 4.8 percent increase premiums for its individual plan called Omnia. Meanwhile, other states are experiencing a much bigger increase: for an individual plan, Blue Cross Blue Shield of Tennessee requested a rate increase of 54 percent.

While New Jersey health insurance companies are requesting rate hikes, they will only affect individuals and small businesses, rather than people insured by Medicare or large employers, the report said. The rate increases still need to be approved by the Department of Banking and Insurance, so we won’t know what the final premiums will be until November.

To read more about Obamacare rates in New Jersey, read the article.