Insurers Aim for Average Rate Increase of 20% for Individual Health Plans in 2023

Insurance companies that sell policies on and off the Connecticut Affordable Care Act exchange are looking for an average increase of 20.4 percent in individual health plans next year, alarming advocates who worry that people will drop insurance because they can’t pay.

The rate hike requests were released by the state Department of Insurance on Friday. For small group plans, carriers are asking for an average increase of 14.8%.

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