Anthem Health Plans and ConnectiCare have both submitted requests to the Connecticut Insurance Department (CID) for increasing their premiums in 2021, citing rising medical costs and demand for services in part from the Covid-19 pandemic.
The companies are the only insurers that sell plans on the state”™s health insurance exchange, Access Health CT.
Anthem is seeking a 9.9% average increase in its individual policies and a 9.5% rise in its small group policies. ConnectiCare is asking for an average increase of 5.5% for individuals but a 0.2% decrease in its small group policies.
Anthem”™s small group policies cover an estimated 22,500 people and their dependents. Employers with 50 or fewer staff members qualify for those plans.
ConnectiCare”™s small group plans cover about 250 people.
“The department will examine these filings with a fine-tooth comb to make sure these requested rates are consistent with state law,” CID Commissioner Andrew Mais said in a statement. “We will do everything we can to protect Connecticut health care consumers during the difficult Covid crisis.”
If approved, the proposed increases would go into effect on Jan. 1.
The traditional public hearing on insurance rate hikes will most likely be held virtually, on Sept. 2 at 9 a.m.
