Premiums for next year in other state exchanges are coming
in and they are getting better news than Connecticut. Vermont and Rhode Island exchanges
are seeing no rate increases and improved benefit packages. Maryland’s and
California’s increases are far less than expected. Rates for Oregon and
Washington actually dropped, in some cases significantly. In Oregon, two
insurers withdrew their proposals to submit new lower rates to match competitors.
So far in our state, ConnectiCare and HealthyCT have
proposed monthly average premiums of $397 and $427 for individuals in the
exchange. It is estimated that individual premiums in our state averaged $306 per month across all markets in 2010 and eHealthInsurance.com offerings in
February 2012 averaged $207 per month in Connecticut. It is important to note that
uninsured Connecticut residents couldn’t afford even these rates.
The Connecticut exchange rate proposals are now under review
by the insurance department and other insurer proposals may be coming. But
there are several options available to Connecticut policymakers to control
rates in the exchange; many have already been adopted by other states. Policymakers
need to move quickly to help keep insurance affordable for Connecticut
consumers and small businesses.
