Consumers Urge Connecticut Regulators To Limit Rising Health Insurance Costs
An informational hearing focused on rate proposals filed by
Together, the two carriers cover more than 100,000 people, Insurance Commissioner
Rapidly Rising Connecticut Health Insurance Rates
"The pressure is not just affording the premium, but health care coverage," he said.
"They're leaving because they cannot afford it," she said. "I ask of you, please consider not giving this increase. The clients cannot handle it anymore."
Representatives of
In addition, tax law enacted by the Republican-led Congress and signed by President
Planning and pricing for health plans that comply with the Affordable Care Act, or Obamacare, "has become increasingly difficult," said
He blamed a shrinking number of participants in the individual market; and a "corresponding increase in the population's morbidity," or rate of illness, "and uncertainty around marketplace features."
"The market segment has and will continue to be challenged given the fact that the rules of the game continue to change as does the composition of the market," he said.
Rising insurance premiums reflect increasing health care costs, Kosior said. Hospital consolidation has not brought promised efficiencies and pharmaceutical companies are pricing drugs "for which there is no competition at extreme prices with no justification or relationship to the cost of the drug or its research and development."
Ten health insurers sought rate changes covering about 293,000 customers for next year. The proposed increases continue to rise at rates far faster than inflation, but on average are below last year's increases.
The proposed average individual rate increase request, released in July by the state
The proposed average small group rate increase request is 10.2 percent and ranges from -5.0 percent to 21.1 percent. The average increase requested last year was 18.1 percent.
Higher medical costs and rising demand for medical services were cited to back the proposed rate hikes.
Wade also cited uncertainty in
Open enrollment for the 2019 coverage year begins
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