Aug 11, 2022
According to the California Association of Health Plans, health plan premiums for the coming year are influenced by several factors, including the return of pre-pandemic medical trends, an increase in mental health and telehealth utilization, uncertainty with COVID-19, and inflation. At the same time, businesses and individuals want options to better predict and control their healthcare benefits costs.
Today, Sutter Health Plus is sharing their large group renewal rate averages for 2023, small group rates for Q4 2022 and Q1 2023, and individual rates for 2023.
Large Group Plans
The 2023 renewals and new business for Sutter Health Plus large groups will continue to be competitively priced with an expected annual average rate increase of 5% for medical and pharmacy benefits over 2022.
Small Group Plans
The Sutter Health Plus fourth-quarter rates for plans effective October through December 2022 reflect a nominal average increase of 3.1% over last year for small group employers in Northern California. First quarter 2023 small group rates continue to be competitive with an average 1.7% increase, as compared to a market average of nearly 5%.
Individual and Family Plans
The 2023 Sutter Health Plus plans for individuals and families average an annual rate increase of 3.5%—far below the average increase of nearly 6% in the Northern California market.
“Sutter Health Plus delivers value with an integrated provider network focused on improving care coordination and promoting prevention, which results in better health outcomes,” shared Rob Carnaroli, Sutter Health Plus Vice President of Sales. “We are committed to offering our communities more for their healthcare dollar—including same-day care, video visits, My Health Online, and virtual-first primary care—all from Sutter Health and all in an affordable way.”
