The Connecticut Insurance Department has received 16 rate filings from 10 health insurers for plans that will be offered on the individual and small group market, both on and off the state-sponsored exchange, Access Health CT.
Anthem, which participates both on and off the exchange, covers 28,071 individuals and 25,529 small groups, defined as employers with a maximum of 50 employees. It has requested a 6.1% to 22.6% increase in the cost of its individual plans, a median requested increase of 12.3%; and a 4.5% to 23.5% increase in the cost of its small group plans, a median requested increase of 11.5%.
ConnectiCare ”“ which operates on the exchange under an annual contract, the latest of which goes into effect on Jan. 1, 2022 ”“ covers 81,852 individuals and 1,786 small groups. It is seeking a 1.1% to 16.8% rise in the cost of its individual plans, a median requested increase of 7.4%; and a 7.6% to 18.5% rise in the cost of its small group plans, a median requested increase of 13.6%.
Last year, the Connecticut Insurance Department approved a 0.01% increase for individual plans ”“ reduced from an average request of 6.29% ”“ an a 4.1% rise for small group plans, reduced from an average request of 11.28%.
CID Commissioner Andrew Mais will announce his final decision on the proposed rate increases in September. “Working within the authority granted to this department, we will closely examine these filings to make sure the requested rates are consistent with state law,” he said.
