Open enrollment begins this week for Rhode Islanders who buy health plans through the state marketplace, HealthSourceRI.
And now, more than ever, customers may need to switch plans to get better rates.
Rhode Islanders who buy health insurance through the state may find their current plan is going to cost a lot more next year. That’s because the state’s two major insurers — Blue Cross and Neighborhood Health — are raising premiums on their most popular plans.
The rate hikes follow the Trump Administration’s decision to cut federal subsidies — known as cost-sharing payments — provided under the Affordable Care Act to help cover the cost of insurance for low-income people.
But those expected to take the biggest hit for the loss in cost-sharing payments are the nearly 1,400 customers of HealthSourceRI who don’t qualify for financial assistance.
HealthSourceRI spokeswoman Kyrie Perry says those price hikes mean customers need to shop around for the best deal. And to make that easier, HealthSourceRI is launching a new, online calculator — or “Savings Tool.’’
The open enrollment begins Wednesday and runs through the end of December. For more information visit HealthSourceRI’s website at www.HealthSourceRI.com or contact HealthSource
RI by phone at 1-855-840-4774 or in person at 401 Wampanoag Trail in East Providence Monday through Friday, from 8 a.m. to 7 p.m. and Saturdays from 9 a.m. to 12 noon.
