Insurance Department Approves Reduced Health Insurance Rate Hikes For 2025
"Our priority is always the consumer. Our team of actuaries and professionals has carefully reviewed and appropriately reduced the requested health insurance rate increases for 2025," said
While the rates approved by CID were lower than those requested by the insurance companies across the board, there was significant variation across the exchanges and plans. For individual plans on the exchange,
Only one company,
For off exchange plans,
Off exchange small group plans saw the smallest increases.
While CID noted that it had reduced individual market rate increase requests by an average of 29% and small group market requests by 35%, leaders across the state called for more to be done to arrest the ever-growing costs of insurance in the state.
"I appreciate that the
During a public hearing about the rate increases earlier in the month, legislators on both sides of the aisle were incredulous about the need for another round of insurance rate hikes.
"I am sure the providers are telling us what they believe the cause of the increase is. I am also highly skeptical of ConnectiCare's claim that COVID-19 related expenses will continue at the same level as in 2023, especially as none of the other insurers even mention this as a cost driver," said Rep.
Senator
"Clearly, they have failed and the patients have paid the price," he said. "The insurers, the Pharmacy Benefit Managers (PBMs), the hospitals and the drug manufacturers all profit from the system at the expense of the patients who are the appropriate beneficiaries the system is supposed to serve. We need to change course and put the patient back in the center."
The insurance landscape in
Open enrollment for the 2025 coverage year begins
------------
Is Hartford Really
That Expensive?
How Shock And Surprise
Republish This Story
Republish our articles for free, online or in print, under a
X
Republish this article
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
This post originally appeared at CTNewsJunkie.com.
Unless otherwise noted, you can republish this article for free under a
*
You have to credit CTNewsJunkie and any co-reporting partners. In the byline, we prefer "Author Name, Publication(s)." At the top of the text of your story, include a line that reads: "This story was originally published by CTNewsJunkie." You must link the word "CTNewsJunkie" to the original URL of the story.
*
If you're republishing online, you must link to the URL of this story on CTNewsJunkie.com, include all of the links from our story, and use our tracking pixel script, which is located at the bottom of the text you are copying to your clipboard below.
*
If you use canonical metadata, please use the CTNewsJunkie URL. For more information about canonical metadata, click here.
*
You can't edit our material, except to reflect relative changes in time, location and editorial style. (For example, "yesterday" can be changed to "last week," and "Portland, Ore." to "Portland" or "here.")
*
You cannot republish our photographs or illustrations without specific permission. Please contact [email protected].
*
It's okay to put our stories on pages with ads, but not ads specifically sold against our stories. You can't state or imply that donations to your organization support CTNewsJunkie's work.
*
You have no rights to sell, license, syndicate, or otherwise represent yourself as the authorized owner of our material to any third parties. This means that you cannot actively publish or submit our work for syndication to third-party platforms or apps like
*
You can't republish our material wholesale, or automatically; you need to select stories to be republished individually. (To inquire about syndication or licensing opportunities, contact
*
You can't use our work to populate a website designed to improve rankings on search engines or solely to gain revenue from network-based advertisements.
*
We do not generally permit translation of our stories into another language.
*
Any website our stories appear on must include a prominent and effective way to contact you.
*
If you share republished stories on social media, we'd appreciate being tagged in your posts. We have official accounts for @CTNewsJunkie on Twitter and Facebook.
If you have any other questions, contact
Insurance Department Approves Reduced Health Insurance Rate Hikes For 2025
by Jamil Ragland, CT News Junkie
Insurance Department Approves Reduced Health Insurance Rate Hikes For 2025 by Jamil Ragland, CT News Junkie
This is the list of reduced rate hikes for on-exchange health insurance plans from four insurers in the
"Our priority is always the consumer. Our team of actuaries and professionals has carefully reviewed and appropriately reduced the requested health insurance rate increases for 2025," said
While the rates approved by CID were lower than those requested by the insurance companies across the board, there was significant variation across the exchanges and plans. For individual plans on the exchange,
Only one company,
For off exchange plans,
Off exchange small group plans saw the smallest increases.
While CID noted that it had reduced individual market rate increase requests by an average of 29% and small group market requests by 35%, leaders across the state called for more to be done to arrest the ever-growing costs of insurance in the state.
"I appreciate that the
During a public hearing about the rate increases earlier in the month, legislators on both sides of the aisle were incredulous about the need for another round of insurance rate hikes.
"I am sure the providers are telling us what they believe the cause of the increase is. I am also highly skeptical of ConnectiCare's claim that COVID-19 related expenses will continue at the same level as in 2023, especially as none of the other insurers even mention this as a cost driver," said Rep.
Senator
"Clearly, they have failed and the patients have paid the price," he said. "The insurers, the Pharmacy Benefit Managers (PBMs), the hospitals and the drug manufacturers all profit from the system at the expense of the patients who are the appropriate beneficiaries the system is supposed to serve. We need to change course and put the patient back in the center."
The insurance landscape in
Open enrollment for the 2025 coverage year begins
This is the list of reduced rate hikes for off-exchange health insurance plans from six insurers in the
Copy to Clipboard
Findings from Rutgers University Robert Wood Johnson Medical School Update Knowledge of Epilepsy (Health Insurance and Transportation Barriers Impact Access To Epilepsy Care In the United States): Central Nervous System Diseases and Conditions – Epilepsy
Employers added 142,000 jobs in August
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News