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Insurers Propose Reduced Premiums for Individual Policies

2019 Legislature created a reinsurance pool to help pay claims ranging from $40,000 to about $1 million using federal money

By Molly Priddy

HELENA — The three Montana companies that offer health insurance policies on the individual marketplace are proposing reduced rates in 2020, in part because of a bill passed by the Montana Legislature to help spread the risk of high-cost claims.

Blue Cross and Blue Shield of Montana spokesman John Doran says Blue Cross is proposing a 14.1% average premium decrease for the 19,500 people it covers.

State Auditor and Insurance Commissioner Matt Rosendale said Thursday that PacificSource is proposing a 13.4% decrease for the 11,500 Montanans covered by their plans while the Montana Health CO-OP is proposing an average 8% premium cut for their 20,700 members.

The 2019 Legislature created a reinsurance pool to help pay claims ranging from $40,000 to about $1 million using federal money and a premium tax on all major medial policies sold in the state.