Regence responds to individual rate filing and public hearing
We share our members concern about rising health care costs. Premium increases are difficult for the entire community, but especially those members who must bear the cost of individual policies. At Regence we are focused on increasing efficiency, reducing administrative costs and holding true to our nonprofit mission as part of a larger strategy to reduce costs to members. Health care costs for our individual pool are increasing, while the number of people sharing the burden of those costs is shrinking. As a result, rates continue to rise. The rates we have requested in this filing are a direct reflection of these costs. At Regence, we are working to address those cost drivers as we collaborate with policy makers, health care providers and our members to develop solutions that end this trend of rising costs and ensure access to quality and affordable health care for Oregon families.
Regence welcomes an open and transparent hearing process that provides an opportunity for Oregonians to better understand the rising costs of health care. We encourage the public and our members to ask questions and learn about how rates are set, and what we are doing at Regence to address the challenge of affordability for everyone. For more information regarding the key factors behind our rate requests visit http://insurance.oregon.gov/ where you can find a complete copy of our filing.