State Rep. Tom Delnicki testifies against unaffordable health insurance rate hike
Today, State Rep. Tom Delnicki (R-14) testified against health insurers and their request seeking an average hike of 12.4% on individual health plans next year and 14.8% on small group plans.
This is simply unaffordable. Wages haven’t increased 12% in the past year and these requests will further burden Connecticut families. The Insurance Department doesn’t always automatically grant the full request, but any increase in fees places an added strain on residents at a time when Connecticut should be doing what it can to reduce costs for families.
Additionally, Rep. Delnicki stood alongside CT Attorney General William Tong in his call to reject these proposed rate increases.
The Insurance Department will review each filing to determine if they are justified and will either approve, reject, or modify the request, with a final ruling likely in early September.
Open enrollment for the 2024 coverage year begins November 1, 2023.
Carriers have attributed the proposed increases to:
- Trend: Trend is a factor that accounts for rising health care costs, including the cost of prescription drugs and the increased demand for medical services.
- Experience: Experience adjustment necessary to reflect deteriorating claim experience from the prior rating period to the current rating period.
- Medicaid Unwinding: The impact to the current commercial market due to Medicaid unwinding.