The public will have a chance to weigh in on insurance companies’ proposals to raise rates on 2027 state-regulated health plans.
The Connecticut Insurance Department scheduled a hearing for 9 a.m. on Aug. 26 at the Legislative Office Building, 300 Capital Ave. in Hartford.
Carriers are seeking a 16.2% average rate increase for individual policies and 17.8% for small group plans.
The policies cover about 220,000 people — 157,000 with individual plan coverage and 63,000 with small group plans.
Elected officials have criticized the proposals.
“These double-digit demands are unaffordable, excessive and unacceptable, and we’re going to scrutinize every page of these applications,” Attorney General William Tong said. “Year after year, insurers pad these rates with fuzzy math, double-counted costs and unsupported assumptions. They need to come before the Connecticut Insurance Department prepared to justify every analysis, and they are going to need to explain why they remain utterly unwilling and unable to use their leverage to negotiate with healthcare providers and drive down these runaway healthcare costs.”
Sen. Jeff Gordon, R-Woodstock, added: “Unaffordable, unsustainable, double-digit annual health insurance increases, yet again? … Join me in urging state government officials to reject these hikes.”
Two carriers, Anthem Health Plans and ConnectiCare Benefits Inc., are selling policies through Access Health CT, the state’s insurance exchange, where anyone can purchase a healthcare plan.
Anthem asked for an average rate hike of 12.8% on individual plans that cover 103,176 people, with changes ranging from a decrease of 3.4% to an increase of 13.3%, depending on the policy.
ConnectiCare requested an average hike of 22.7% on individual plans that cover 50,114 residents, with increases ranging from 20.8% to 25.2%.
Anthem also sought an average increase of 17.4% on small group policies that cover 46,934 people.
Those companies and others are also selling plans directly to consumers, outside of the exchange.
Insurers say they need customers to pay more for coverage because the cost of administering those plans is rising.
“Our submitted rates are based on the healthcare services we expect members to access next year, along with the anticipated costs associated with that care,” Stephanie DuBois, a spokesperson for Anthem Blue Cross and Blue Shield. “Additionally, a growing number of legislative mandates and restrictions on carriers’ ability to manage rising healthcare costs continues to add pressure.”
Residents can sign up to speak virtually or in person at the August public hearing.
To register for virtual remarks (via Zoom), email cid.ratefilingspeaker@ct.gov by 5 p.m. on Aug. 24. Officials ask that speakers include their name and organization and attach any written comments.
People who want to speak in person can sign up on the day of the hearing (starting at 8:30 a.m.) in Room 1D of the Legislative Office Building.
The hearing will also feature presentations from representatives of insurance companies. The public comment portion will begin in the early afternoon.
