The State of New Jersey
NJ Department of Banking and Insurance

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2024 IHC/SEH Average Rate Changes

Rate filings are submitted to the department by carriers. By law, rate filings in the individual and small employer markets are informational and not subject to prior approval; however, the Department may disapprove any informational filing if the Department finds that the filing is incomplete and not in compliance with relevant laws or that the rates are inadequate or unfairly discriminatory.

Below is the average total rate action by carrier in the individual market, which includes both on-exchange and off-exchange offerings:

Individual Market 2024 Rate Change

Carrier Avg. Rate Change
Aetna* 5.4%
AmeriHealth* 3.8%
AmeriHealth HMO 4.3%
Horizon* 4.2%
Oscar* 6.7%
Oxford 13.8%
UnitedHealthcare* ** n/a
Ambetter from WellCare of New Jersey* 8.3%
Total IHC Market 4.4%

*Indicates that the company will offer products on Get Covered New Jersey, the state’s official health insurance marketplace, for plan year 2024. Only plans offered on Get Covered New Jersey will have access to state subsidies and federal tax credits.
**As a new carrier in the market, a rate comparison to 2023 is not applicable.
Below is the average total rate action by carrier in the small employer health market:

Small Employer Market 2024 Rate Change

Carrier Avg. Rate Change
AmeriHealth 25.8%
AmeriHealth HMO 25.9%
Horizon 6.5%
Oscar 15.0%
Oxford 2.3%
Oxford HMO 2.5%
Total SEH Market 7.3%
Previous Years

OPRA is a state law that was enacted to give the public greater access to government records maintained by public agencies in New Jersey.
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