WWLP MassachusettsBOSTON (SHNS) - Hundreds of thousands of small business employees and individuals could face significantly higher health insurance premiums next year under proposed rate increases that critics warn would add another crushing weight to employers and residents already struggling to manage high costs.
The Division of Insurance in the coming weeks will review 2026 merged market rates submitted by carriers, which average out to a 13.4% hike that's more than twice as large as the 4.8% growth regulators approved two years ago.
Insurers argue they have little choice but to raise rates in the face of growing costs charged by providers and the pharmaceutical industry, while small business leaders warned the hikes will saddle members with even more strain at a time when Massachusetts is becoming in