The Insurance Department was urged Wednesday to block rate hikes on the state’s health exchange. Critics called the years-long cycle of increases unsustainable.
The stakes are even higher this year because the state Insurance Department’s final decision on the rate requests will influence whether the two remaining insurers on Connecticut’s health insurance exchange, Access Health CT, return in 2018.
“We are hoping this extra time will allow the carriers to resolve any issues about working in our exchange,” Access Health CEO Jim Wadleigh said.
Would you buy a health plan that covered fewer hospitals and doctors if the premiums were 10 percent less? So-called narrow-network plans haven’t had much traction in Connecticut, but some think that’s likely to change.
It has been a tumultuous year for Connecticut’s state health insurance exchange, but the latest – and most significant – blow could come Monday if its largest insurer decides not to offer plans next year.
As state regulators consider rate proposals for next year, both of the carriers set to remain on the exchange – Anthem and ConnectiCare – could eliminate their commissions for brokers in 2017, creating uncertainty as brokers and customers plan for the coming year. Many brokers have indicated they will leave the exchange if they will not receive sufficient compensation.
After proposing sharp rate increases for next year’s health insurance plans for individuals and small groups, a trio of insurers faced a barrage of criticism from elected officials and the public during a series of hearings Wednesday and Thursday.
In the wake of a state order halting new enrollment in Connecticut’s co-op health insurer, HealthyCT, the state’s health insurance exchange faces growing challenges as it prepares to lose two of its four carriers.
More than 5,400 new customers have bought private insurance through the state’s health insurance exchange since Nov. 1, a group that includes more young adults and more people who qualify for subsidized coverage compared to the current customer base.
Nine days after health plans sold as part of the federal health law were slated to take effect, some state residents are still struggling to get their coverage set up. Here’s what you need to know about the payment deadlines, what to do if you need an insurance ID card, who to call if you’re having problems, what you can do if you need a prescription filled before you get your insurance information, and the deadlines to know if you’re still shopping for coverage.
As Connecticut residents continue to face problems getting their new health care coverage set up, two more insurance companies selling plans through the state’s exchange have extended their payment deadlines for January coverage.