Insurance Committee amends exchange bill with one-year delay

By Christine Stuart

HARTFORD, Conn. – The Insurance and Real Estate Committee removed the teeth from a bill Tuesday that would have directed Connecticut’s insurance exchange to actively negotiate with insurance carriers to lower the cost of monthly insurance premiums.

The amendment proposed by state Rep. Rob Sampson, R-Wolcott, delayed the requirement that the insurance exchange negotiate with carriers for one year and made it permissive, instead of mandatory. The amendment was adopted on a voice vote and became part of the bill, which was later approved by the committee.

There’s been an ongoing controversy over whether forcing the exchange to negotiate with carriers would actually result in lower rates for customers. Advocates believe the six states that actively negotiate do much better than states that don’t, but some lawmakers believe there’s enough checks and balances in place with the scrutiny of the actuaries at the state Insurance Department.

See the complete story at CT News Junkie.