Initial prices announced for health exchange

The Connecticut Insurance Department released a first look at how much health care plans will cost on the state’s health insurance exchange, Access Health CT.

A part of the Affordable Care Act, the exchange is an open marketplace for individuals and employers to shop for health care plans beginning Oct. 1.

Depending on the level of coverage, initial premiums for individual policies currently range from $215 to $347 per month. For employers with one to 50 employees, monthly premiums range from $271 to $435.

“These rates are a clear signal that the introduction of a competitive marketplace works,” Kevin Counihan, Access Health CT CEO,  said in a release. “And (it) gets us one step closer to our goal: access to quality, affordable health care, with freedom to choose from a variety of high-quality plans for the people in Connecticut who currently don”™t have it.”

To help pay for the premiums, federal subsidies will be offered to individuals earning up to $44,680, or families of four earning as much as $94,200.

No one will be denied coverage based on pre-existing conditions.

Insurance companies participating in the exchange include ConnectiCare Benefits Inc., Anthem Health Plans Inc., HealthyCT Inc. and United Healthcare Insurance Co.

Aetna Life Insurance Co. withdrew its rate filing Aug. 2 after an agreement couldn’t be reached between the company and the insurance department, which said Aetna’s rate was too expensive. Similar to other changes the department made on other companies’ rates, department officials wanted Aetna to remove its risk adjustment and lower expected service increases to 8.5 percent from 10 percent.

With the withdrawal, Lt. Gov. Nancy Wyman said the decision would not affect the state’s overall goal of offering affordable health care plans.

“The bottom line is that this is a business decision by Aetna that changes nothing for Connecticut consumers and businesses,” Wyman said in a release. “People will still be able to choose from a very comprehensive range of quality, affordable coverage options.”