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Anthem and ConnectiCare have proposed rate increases of 15.2% and 4.9%, respectively, for individual health plans.
The department ruled that the average increase for individual plans is 2.72 percent, down from the average request of about 12 percent.
In July, Anthem filed a request for a 9.1 percent average rate hike for next year; ConnectiCare is seeking a 13 percent average rate increase.
The proposed average individual rate increase request is 12.3 percent, while the proposed average small group rate increase is 10.22 percent.
Anthem had Connecticut’s largest market share both in HMO enrollments and Indemnity enrollments by company.
Insurance Department Commissioner Katharine Wade has ordered Anthem and ConnectiCare to revise their rate filings again and resubmit them this week.
“This extension gives Access Health CT and our customers a better understanding of what to expect and when,” AHCT CEO Jim Wadleigh said.
At issue is whether the federal government will discontinue cost-sharing reduction payments, which provide financial assistance for consumers via lower co-payments and deductibles.
Wadleigh's concerns include continued attempts at repealing Obamacare, and the possible exit from the exchange of its two remaining insurers.
The public can make their thoughts known at the hearings in Hartford, online or by mail.
The highest proposed rate increase is a jaw-dropping 52.1 percent.
“If and as changes are made, we will react accordingly,” says AHCT CEO Jim Wadleigh of Obamacare's still uncertain future.
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