Insurers in CT
have asked the Dept. of Insurance for permission to raise premiums significantly
next year, both on the exchange, AccessHealthCT, and off. Insurers want to
raise individual AccessHealthCT premiums on average by 26.8% (Anthem with 56,700
covered lives), 14.3% (ConnectiCare Benefits covering 47,597 lives) and 12.21%
(HealthyCT with 16,274 covered lives). Those averages cover a range of a 39.8%
to 13.0% for individual plans. Insurers blame rising health care costs and
expiring federal transitional reinsurance provisions. Several important points
– in the past, the Insurance Dept. has lowered insurers’ rate increases, many people
are eligible for federal income-based subsidies to help with the cost of exchange
premiums, and the exchange has indicated
an interest in negotiating
with insurers to bring premiums down. Individuals in off-exchange plans
cannot access federal subsides; insurers have requested average increases
between 6.6% and 27.9% for those plans. Small groups are facing similar
increases, both on and off the exchange. The Insurance Dept. will hold hearings on
the increases August 3 and 4 and is accepting public
comment now.
