DOI publishes preliminary health insurance rates for 2025

Thursday August 1, 2024

Contact: Julie Robinson, 208-334-4312
julie.robinson@doi.idaho.gov

BOISE, ID (August 1, 2024) The Idaho Department of Insurance (DOI) has received preliminary premium rates from health insurance carriers for plans sold starting January 2025. The DOI is seeking public comments before final rates are published.

The DOI is reviewing premium rate submissions from health insurance carriers for 2025’s individual and small group plans. These proposed health insurance premium rates are published on the DOI website at https://doi.idaho.gov/consumers/health-insurance/idaho-rate-review/. The average proposed change in premium by location, by metal level, and the corresponding 2025 rates by plan, as well as the carriers’ explanations for the changes, are made publicly available for comment. Carriers filed individual market rate changes from between -3% to 11%, with an average market change of 6%. Rates for small group health insurance are proposed to increase an average of 9%. By law, the DOI only has the authority to determine the rates “unreasonable” if the requests are not adequately justified. Final rates will be publicly available October 1, 2024, at the same web address. In Idaho, the individual health insurance average market premium rates have remained below where they were five years ago, demonstrating the stability of Idaho’s market.

Idaho is in year two of the 5-year Health Innovation 1332 waiver, which has provided a 16% reduction in individual market rates in 2024. The anticipated impact for the third year of the waiver in 2025 is that individual health insurance premiums will be 20% lower than they would have been without the waiver.

“The waiver continues to benefit Idahoans purchasing individual health insurance more than originally anticipated and we are grateful for the support of Governor Brad Little and the Idaho Legislature,” Director Cameron added.

The 1332 waiver – combined with the High Risk Reinsurance Pool – has helped keep Idaho’s individual health insurance market healthy. Idaho consumers can choose from 8 health carriers and 149 plans on the exchange (visit Your Health Idaho).

Comments, questions, or ideas can be submitted via online form at https://doi.idaho.gov/contact-doi/?id=285 or mailed to the following:

2025 Rate Comments
Idaho Department of Insurance
PO Box 83720
Boise ID 83720-0043

The DOI encourages consumers to carefully review all their options with a licensed insurance agent once the final rates are published.

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About the Idaho Department of Insurance

The Idaho Department of Insurance has been regulating the business of insurance in Idaho since 1901. The mission of the Department is to serve and protect Idahoans by equitably, effectively and efficiently administering the Idaho Insurance Code and the International Fire Code. For more information, please visit us at doi.idaho.gov or email us at consumeraffairs@doi.idaho.gov.

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