The Connecticut Insurance Department now has 30 days to decide whether to approve CVS Health Corp.’s acquisition of Hartford-based Aetna Inc. – a merger the companies say will drive down health care costs and opponents portray as anti-competitive and harmful to patients.
A Fairfield County couple traveled to Hartford in June to urge regulators not to let their son’s insurer raise its rates. A month later, the insurance department rejected the company’s proposal. But what role did the public hearing have in that decision? Not much, according to the department.
The Connecticut Insurance Department rejected Anthem Blue Cross and Blue Shield’s request to raise individual-market premiums by an average of 12.5 percent next year, deeming the proposal excessive and directing the carrier to submit new rate proposals for review.