Many Oregonians to Face Higher Health Insurance Costs in 2025

State-approved rate hikes of as much as 16% await individuals and small businesses in the state.

Chris Schafer
Written byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
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  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Evelyn Pimplaskar
Evelyn PimplaskarEditor-in-Chief, Director of Content
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John LeachSenior Insurance Copy Editor
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John leads Insurify’s copy desk, helping ensure the accuracy and readability of Insurify’s content. He’s a licensed agent specializing in home and car insurance topics.

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Published September 16, 2024 at 12:00 PM PDT | Reading time: 2 minutes

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Health insurance is about to get more expensive for many individuals and small businesses in Oregon following regulators’ Sept. 5 approvals of new rate hikes.

The 2025 increases will affect people who buy their own health insurance and small businesses employing 50 people or fewer. About 170,000 Oregonians will face premium increases.

The impact for individuals and small businesses by the numbers

Oregon residents who buy their health insurance through the state’s individual market can expect a premium increase of roughly 8% in 2025. And some options, like PacificSource Health Plans, received approval for an 11.1% increase.

This means a 40-year-old living in Portland will now have to pay $573 per month for Silver Coverage from PacificSource, the Oregon Division of Financial Regulation (DFR) said.

Silver Coverage provides mid-level health insurance benefits.

PacificSource cited increased medical and pharmaceutical costs as the reason for its filing an increase request.

The Kaiser Foundation Health Plan of the Northwest secured the smallest rate increase, for individual filers, at 5%. A 40-year-old living in Portland will pay a monthly premium of $486 for Silver Coverage from the Kaiser Foundation in 2025, according to DFR data.

Average rate approvals for the small business market were far more volatile, topping out with a 16.3% rate increase for Providence Health Plan. PacificSource secured the smallest rate increase for the small business market, at 5.7%.

Providence’s dramatic increase looks to keep the insurer in line with market prices. For comparison, a 40-year-old living in Portland will now pay $467 per month for coverage from Providence, compared to a monthly premium of $459 from PacificSource in 2025.

What’s next? Public input to rate reviews remains limited

The Division of Financial Regulation spent months reviewing insurers’ rate increase requests. In many cases, the DFR approved requested increases for small business health insurance without any changes. But it reduced individual market increases, approving hikes that are 1% less than what insurers requested.

Public input was also limited during this rate review period, with only a single public comment submitted to the division’s public comment portal.

“These rate increases are terrible,” the anonymous comment stated. “I already have many people who bail on the Marketplace because it is still too expensive for their income level. There will be more and more people who will go uninsured because of this.”

Chris Schafer
Chris SchaferSenior Editor

Chris is Insurify’s Senior Editor for home insurance. He’s a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more. He is passionate about breaking down complex subject material to make important information accessible to everyone. 

Chris began his career as a journalist, managing two weekly newspapers, then moving into marketing and content marketing roles. Before joining Insurify, Chris served as the content strategy manager at Siteimprove and as the content manager at Brandpoint, where he managed a team of content creators. 

Away from work, Chris is an active hockey player and proud father of two rambunctious little girls. Chris holds a Bachelor’s degree in English with a minor in mass communications from the University of Minnesota. 

Evelyn Pimplaskar
Edited byEvelyn PimplaskarEditor-in-Chief, Director of Content
Evelyn Pimplaskar
Evelyn PimplaskarEditor-in-Chief, Director of Content
  • 10+ years in insurance and personal finance content

  • 30+ years in media, PR, and content creation

Evelyn leads Insurify’s content team. She’s passionate about creating empowering content to help people transform their financial lives and make sound insurance-buying decisions.

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John Leach
Reviewed byJohn LeachSenior Insurance Copy Editor
Photo of an Insurify author
John LeachSenior Insurance Copy Editor
  • Licensed property and casualty insurance agent

  • 8+ years editing experience

John leads Insurify’s copy desk, helping ensure the accuracy and readability of Insurify’s content. He’s a licensed agent specializing in home and car insurance topics.

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