"Our success will be dependent on our judgment in setting these rate caps in the right place. Simultaneously, it guarantees coverage and is an incentive enough to get into the program by giving you, the carrier, more customers. We think we are in the sweet spot. Time will tell. But we think it is a powerful mechanism to drive down costs throughout the system."

—Jay Inslee, Governor of Washington

In 2013 the average individual market medical loss ratio was 84% and grew to 103% by 2015. It began falling after that in 2016 to 96% and continued to fall for the next two years; 82% in 2017 and 70% in 2018.

Excerpted from: KFF