RICHMOND, Va. (WRIC) — Insurers planning to participate in Virginia’s individual market next year are proposing average increases of 20% or higher, according to the State Corporation Commission (SCC).
According to a release from the commission on Friday, Aug. 8, the SCC announced that the public can view the proposed health insurance rates in Virginia’s individual and small group markets for plan year 2026. As a result, of the 10 insurers planning to participate in the state’s individual market next year, all have proposed 20% or higher rate increases from 2024.
These proposals come during growing concerns about healthcare in Virginia. In July, President Donald Trump signed the “big, beautiful bill” — the core of Trump’s domestic policy agenda — with experts warning that the bill could lead to rising health insurance premiums…