SALT LAKE CITY -- Health insurance on Utah’s federal exchange is far more expensive this year than last, though the rates of increase vary greatly depending on the company and the specific plan.
But the health actuary for the Utah Department of Insurance, Jaakod Sundberg, says he was surprised by how little the rates increased.
“I was expecting higher increases in the individual market than were presented by the companies,” Sundberg said.
Sundberg was testifying before the Health Reform Task Force of the Utah State Legislature.
Sundberg’s numbers showed an average increase of 21.8 percent across the board for individual health insurance plans on and off of Utah's federal exchange.
The Affordable Care Act requires individuals to have health insurance or pay a tax penalty.