Insurance Department Hearing on Proposed Rate Increases
Posted on August 3, 2022
The Connecticut Insurance Department is considering substantial proposed rate increases for individual and small group (for employers with 50 or fewer workers) insurance markets. The average of the proposed rate increases is 20%. Nine health insurance providers covering approximately 206,000 people have filed for increases. The filings are for both the state-sponsored health insurance exchange, Access Health CT, and off-exchange plans.
According to the Insurance Dept.,
- The proposed average individual rate request is a 20.4 percent increase, compared to 8.6 percent in 2022 and ranges from 8.6 percent to 25.2 percent.
- The proposed average small group rate request is a 14.8 percent increase, compared to 12.9 percent in 2022 and ranges from 3.6 percent to 29.3 percent.
The Insurance Department Announced a Public Hearing on Rate Requests for August 15th
From the Insurance Department:
The public informational meeting will be held in a hybrid format, both in person at the Legislative Office Building, Hartford, and online. The meeting is open to the public and can be viewed on CT-N.
Meeting Date: Monday, August 15, 2022
Time: 9:00 AM
Where: Legislative Office Building, 300 Capitol Ave, Hartford, Connecticut
Viewing: This hybrid informational meeting will be held both in person and online. CTN will web stream the hearing live.
The public will have an opportunity to submit questions and/or provide comments specific to the rate filings. Anyone wishing to speak virtually at the meeting via Zoom can sign up by sending an email to cid.RateFIlings@ct.gov with your name and written comments attached no later than Friday, August 12, 2022. Anyone who wants to speak in person can sign up on the morning of August 15 at the Legislative Office Building beginning at 8:30AM.
In order to accommodate all those who wish to speak, oral comments at the hearing will be limited to 3 minutes per person. The online public comment period began on July 8 when the filings were posted for public review and such period will be open until the decision is made by the Department.