State to review health insurance rate hike proposals – NBC Connecticut

The state Department of Insurance has received rate proposals from nine health insurers for the individual and small group market and said they are on average higher than last year. The 13 applications cover about 206,000 people.

The proposed average individual rate request is an increase of 20.4 percent, compared to 8.6 percent in 2022, and ranges from 8.6 percent to 25.2 percent, according to the department.

While the proposed average rate request for small groups is a 14.8 percent increase compared to 12.9 percent in 2022 and ranges from 3.6 percent to 29.3 percent.

“The Connecticut Department of Insurance received 13 rate requests from nine health insurers for plans that will be offered in the individual and small group markets, both on and off the state-sponsored exchange, Access Health CT. Working within the authority given to this department, we will carefully review these documents to ensure that the rates requested are consistent with state laws,” Insurance Commissioner Andrew Mays said in a statement.

The department will hold an informational hearing on the requested rate increases in early August.

Attorney General William Tong said Friday he has sought a full public hearing before the state Department of Insurance to scrutinize the proposals.

“Healthcare costs and insurance premiums are already prohibitive for many families, businesses and individuals in Connecticut, and these double-digit rate increases require strict scrutiny. The Department of Insurance had previously agreed to hold public hearings on any rate hike above 10 percent, and that transparency is certainly needed now. We cannot simply allow insurers to submit costs and claims without our own independent analysis and review,” Tong said in a statement.

  • Aetna Life Insurance Company – 2023 off exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, Aetna Life Insurance Co. filed for a 14.1 percent rate increase for small group benefit plans that provide essential medical and prescription drug coverage to employers with 50 or fewer workers.
  • Anthem Health Plans, Inc – 2023 Exchange Rates
    • Business Submission Type: Individual
    • On July 1, 2022, Anthem Health Plans, Inc. filed a request for an average increase of 8.6 percent on individual health plans offered on and off the state’s health insurance exchange.
  • Anthem Health Plans, Inc – 2023 Exchange Rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, Anthem Health Plans, Inc. filed a request for an average increase of 3.6 percent for small group health plans for employers with 50 or fewer workers.
  • Cigna Health Insurance Company – 2023 excluding exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, Cigna Health and Life Insurance Company filed a request to increase rates by an average of 19.64 percent for small group policies sold outside of Access Health CT, the state-sponsored health insurance exchange.
  • ConnectiCare Benefits, Inc. – 2023 regarding exchange rates
    • Business Submission Type: Individual
    • On July 1, 2022, ConnectiCare Benefits, Inc. (CBI) filed a request to raise rates by an average of 24.1 percent for individual health plans sold through Access Health CT, the state’s health insurance marketplace.
  • ConnectiCare Benefits, Inc. – 2023 regarding exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, ConnectiCare Benefits, Inc. (CBI) has filed a request to increase rates by an average of 22.9 percent for small group plans sold through Access Health CT, the state’s health insurance marketplace.
  • ConnectiCare Inc – 2023 outside exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, ConnectiCare, Inc. filed a request to increase rates by an average of 24.5 percent for small group policies sold outside of Access Health CT, the state-sponsored health insurance exchange.
  • ConnectiCare Inc – 2023 outside exchange rates
    • Business Submission Type: Individual
    • On July 1, 2022, ConnectiCare, Inc. filed a rate filing calling for an average increase of 23.6 percent for individual health plans, or “SOLO,” products sold outside of Access Health CT, the state-sponsored health insurance exchange.
  • ConnectiCare Insurance Company, Inc – 2023 off exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, ConnectiCare Insurance Company, Inc. filed a request to increase rates by an average of 29.3 percent for small group policies sold outside of Access Health CT, the state-sponsored health insurance exchange.
  • ConnectiCare Insurance Company, Inc – 2023 On and Off Exchange
    • Business Submission Type: Individual
    • On July 1, 2022, the insurance company ConnectiCare filed a request to raise rates by an average of 25.2 percent for individual health plans marketed through Access Health CT, the state’s health insurance marketplace.
  • Oxford Health Insurance, Incorporated – 2023 off-exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, Oxford Health Insurance, Inc., filed a request to raise rates by an average of 13.4 percent for health plans used by employers with 50 or fewer workers.
  • Oxford Health Plans (CT), Inc – 2023 off exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, Oxford Health Plans (CT), Inc., filed a request to raise rates by an average of 15.7 percent for HMO health plans used by employers with 50 or fewer workers.
  • UnitedHealthcare Insurance Company – 2023 off exchange rates
    • Company Type of Submission: Small Group
    • On July 1, 2022, insurer UnitedHealthcare requested an average rate increase of 13.9 percent for small group plans it markets outside of the state health insurance exchange.

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