As all the other health insurers on California's Obamacare exchange raise their rates for next year, Kaiser Permanente plans to lower them.
The Los Angeles Times reports that a new analysis by Citigroup shows Kaiser's premiums dropping by 1.4 percent in 2015.
At the same time, the average premium across all plans on the Covered California exchange will rise 4.2 percent.
Citigroup health care analyst Carl McDonald told the Times he thinks Kaiser's move is meant to draw customers:
Kaiser was among the most expensive health plans in 2014 and staggered to a fourth-place finish in exchange enrollment. Anthem Blue Cross was the leader statewide, followed by Blue Shield of California and Health Net Inc.
"Kaiser doesn’t seem particularly happy with its exchange market share, as it is the only company reducing exchange premiums in 2015," McDonald said.
McDonald's report predicts premiums for the other Covered California plans will rise as follows:
- Anthem Blue Cross: 4.6 percent
- Blue Shield: 6 percent
Health Net: 4.9 percent
(Note that Kaiser's plans on the exchange are different from its employer-based plans and typically have deductibles.)
Rates for Obamacare exchange plans are rising nationwide, too, but not to the level of the double-digit "sticker shock" forecast in Congressional debates last year, reports The Hill.