Health insurance premiums could increase by almost half for Illinois residents who buy plans through Affordable Care Act markets, according to proposals submitted by insurers.
Blue Cross Blue Shield is the largest company on the exchange, and is proposing increases ranging from 23 to 45 percent for individual plans.
The company says these increases are in line with those in markets across the country. Analysts note insurers are facing higher medical costs from ACA customers, and some companies priced their initial coverage too low in an attempt to grab new business.
More than 12 million people nationwide get coverage though the health law's markets, which offer subsidized private insurance.