Two insurers will be charging higher premiums for New Jerseyans who buy coverage in the federal health insurance marketplace created by the Affordable Care Act.
Horizon Blue Cross Blue Shield of New Jersey customers will see their rates rise by an average of 24 percent next year, while AmeriHealth of New Jersey policy holders will pay an average of 17 percent more.
The state-approved rate increases were made public Tuesday by the Department of Banking and Insurance.
Horizon and AmeriHealth are two of three insurers in New Jersey participating in the marketplace for 2018. The other is New York-based Oscar Health, which is returning after a year’s absence.
Along with increasing its rates, AmeriHealth is also expanding its operations and will now serve 13 of the state’s 21 counties.