For the first time, Highmark looks to lower its Obamacare marketplace rates

For the first time, Highmark Blue Cross Blue Shield of Delaware is asking the state to decrease its Obamacare marketplace rates.

Highmark, the only insurer on the Delaware Affordable Care Act marketplace, has proposed decreasing rates by 5.8 percent in 2020, officials said. This is expected to affect about 20,000 residents.

Previously, the insurer has increased rates in the double digits. Last year, rates increased by 3 percent. This decrease would only apply to Delawareans who are enrolled on the ACA marketplace, not those who have Medicaid, Medicare and private insurance. 

COST OF CARE:How state health officials want to lower Obamacare premiums by 20 percent

In 2018, the Department of Insurance applied the increase to only silver plans, which helped reduce the cost of gold and bronze plans as a result. It allowed for more federal subsidies to be available to help curb expenses. 

The state is currently reviewing this proposal and will announce the approved rate later this summer, officials said. 

NEW LEGISLATION:How these Delaware health care bills could help you save money down the road

Contact Meredith Newman at (302) 324-2386 or at mnewman@delawareonline.com. Follow her on Twitter at @merenewman.