Social Networks We Use

Categories

CT Tech Junkie Feed

Video | iPhone 6 Review - Is it worth the upgrade?
Sep 20, 2014 8:26 am
The release of a new iPhone has almost become an Autumn holiday — especially for the hundreds of eager customers who more »
Hartford Entrepreneur is Crunching Numbers for the Greater Good
Sep 18, 2014 6:59 am
Data is vitally important to most nonprofits. It is a key component for seeking grant funds, gives a clear picture of...more »

Our Partners

˜

Insurance Regulators Turn Down Requests For Rate Increases In 2015

by Christine Stuart | Jul 29, 2014 10:19pm
(0) Comments | Commenting has expired
Posted to: Health Care, Legal

istock The Insurance Department denied requests by two insurance companies to boost their rates by more than 12 percent for 2015.

The department denied Anthem’s request to increase its rates on average by more than 12.5 percent. In its decision, the department called the increase “excessive.”

Anthem, which faced public scrutiny at a public hearing in June, was asked to resubmit its rates to the Insurance Department for consideration.

“As we demonstrated during the course of the public hearing, the rates requested in the application were excessive and unsupported by sufficient evidence,” Attorney General George Jepsen and Healthcare Advocate Victoria Veltri said in a statement. “This ruling requires Anthem to resubmit its application in accordance with the department’s recommendations — which will result in lower rates than Anthem had requested.”

The decision was touted by Connecticut’s Congressional delegation as a victory for the Affordable Care Act since some of the rate increases would have impacted plans offered through Access Health CT, the state’s health insurance exchange.

The delegation said the robust review by insurance department regulators “indicate a new era of consumer protection in Connecticut’s health insurance marketplace.”

In the meantime, insurance regulators also turned down a request by ConnectiCare Benefits to raise its rates by 12.8 percent. Instead, it approved a rate hike averaging 3.1 percent.

HealthyCT, which had requested an average rate reduction of 8.6 percent, was granted an 8.5 percent reduction in rates.

Also, UnitedHealthcare, which has not offered plans in the individual market on the exchange in the past, was asked to submit new rates for review.

Tags: , , , , ,

Share this story with others.

Share | |

(0) Comments

Be the first to comment