Health plans are set to raise premiums for all family plans in the US next year.
In a memo sent to customers, Anthem Blue Cross and Blue Shield said it will increase its rates for the 2018-19 family plan year starting March 1, 2019.
Anthem says it will also hike the prices of all family coverage across its entire portfolio of plans in 2019.
“We expect Anthem Blue to continue to increase the prices for the 2019 family plan, starting with the 2018 family plan,” the memo reads.
“Starting on March 1st, 2019, Anthem will increase the premium for the family policy by an average of $25 a month for 2018, $35 a month in 2019 and $45 a month after 2019.
This increase will be reflected in your monthly premium for 2018 and 2019.”
The memo also states that Anthem will not offer a new policy in 2019, citing the “possible impacts of a continuing public health crisis.”
The company says that while there will be a few different ways to lower the cost of family coverage, Anthem has decided to keep the prices consistent.
The company said it is still working with regulators to finalize the pricing for 2018-2019.
The move comes as other major insurers have announced their plans to increase premiums for 2018.
Anthem has been the largest health insurer by profit for the last six years.
Anthem’s annual revenue is $19.4 billion, according to Thomson Reuters.
The American Health Care Association, a trade group for the health insurers, called Anthem’s decision to raise rates “an unprecedented step toward raising premiums and cutting coverage for tens of millions of Americans.”
Anthem has already raised premiums on most of its individual plans, including for children and the elderly.