News Junkie: Insurance regulators approve double-digit rate increases

HARTFORD, Conn. — Without any guarantees from Washington D.C. Connecticut’s insurance regulators decided to allow two carriers to boost their premiums in 2018 by an average of 31.7 percent for Anthem and 27.7 percent for ConnectiCare Benefit customers.

The increases approved assume that cost sharing reductions payments— that go to insurance companies to help them offset the deductibles and co-insurance for lower income individuals—won’t continue.

Insurance Department officials said if there was a guarantee the cost sharing reductions would continue the approved rate increase for ConnectiCare Benefits would have been 16.8 percent, instead of 27.7 percent and for Anthem Health Plans it would have been 24.7 percent, instead of 31.7 percent.

Read the full story on CT News Junkie.

Leave a Reply

Your email address will not be published. Required fields are marked *



You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>