Health Alliance Medical Plans (HAMP) of Urbana, Ill. needs to raise rates on nearly 8,000 members by 12.6% on Jan 1, 2016, according to a filing the company made with the Illinois Dept. of Insurance.
7,678 insured members living in Illinois and Iowa will face the higher rates, which will range from five to 24 percent, depending upon the plan.
The Affordable Care Act (ACA) requires that insurers planning to raise rates 10 percent or more submit their rationale for review by state and federal governments.
HAMP offers health insurance to 400,000 consumers in central, southern and western Illinois, western Indiana and central and eastern Iowa. It is owned by the Carle Foundation, which owns Carle Hospital in Urbana, Ill.
Health Alliance Medical Plans to raise rates 11%
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