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State asks Anthem and ConnectiCare to file new rates in face of fed uncertainty

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The Connecticut Insurance Department has asked Anthem and ConnectiCare to submit new rate filings for 2018, in the face of what it called “market uncertainty” over whether the federal government will discontinue cost-sharing reduction payments, which provide financial assistance for consumers via lower co-payments and deductibles.

The Insurance Department has asked the insurers – the only carriers remaining on Access Health CT, the state’s health insurance exchange – to submit a supplemental filing that reflects the possible absence of cost-sharing reduction payments for 2018, and to apply that impact only on Silver exchange plans.

“This supplemental filing will give the department maximum flexibility in making final determinations for health insurance rates on the exchange within the tight time limits and have rates set for open enrollment in November,” Insurance Commissioner Katharine L. Wade said.

Earlier this year, Anthem asked the Insurance Department for an average rate hike of 33.8 percent on plans covering individuals and their families, while ConnectiCare asked for an average rate hike of 15.2 percent on policies it sells through Access Health CT, where it covers about 51,000 people.

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