The stateâ€™s Division of Financial Regulation has issued its final rate decisions for people and small businesses who buy their own healthÂ insurance.
According to the Oregon Department of Consumer and Business Services, the final ratesÂ are approximately $44 million lower than what health insurance companies originallyÂ requested.
But, there will still be an average increase of 1.5% for people who buy their own health insurance inÂ 2020.
For individuals, the average rate changes vary from a 3.2% decrease to an 8.9% increase, depending on which plan they areÂ on.
Companies like HealthNet, Kaiser, Bridgespan and Providence will see a decrease in premiums for individuals, according to the rate decisions. Regence was the only company to increase premiums forÂ individuals.
For small businesses, average 2020 rates range from a 2.3% decrease to an 11.7%Â increase.
Insurance companies have 20 days to request a hearing before the rates areÂ finalized.
The Department of Consumer and Business Services encourages all Oregonians who purchase their own insurance to apply for assistance through the Marketplace in 2020, even if they didnâ€™t qualify lastÂ year.
Open enrollment for 2020 insurance plans is from Nov. 1 to Dec.Â 15.