Rapidly Rising Connecticut Health Insurance Rates May Slow In 2019
Rate requests by 10 health insurers covering about 293,000 customers for next year continue to rise at rates far faster than inflation, but on average are below last year's increases, the state
The proposed average individual rate increase request is 12.3 percent and ranges from -10.9 percent to 31 percent. It's down from an average increase request of 25.5 percent last year.
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.
Uncertainty in
"The department is pressing for clarity and guidance from the federal government so that we can finalize the rates for 2019," she said.
Insurers See 'Uncertainty' From
Sens.
Democratic Gov.
"Next year, over 100,000
State Sen.
Even at a lower rate, the requested health insurance increase for 2019 is "still unacceptable and a heavy burden for
A
Insurers see efforts by the Trump administration to undermine the ACA as "another hammer to increase their premiums," said
"Obamacare came out because insurance was unaffordable," he said. "It made everything more expensive."
And although low-income customers can pay lower prices with a subsidy, "in our neck of the woods very few qualify for a subsidy," Walsh said.
Insurance premium increases have been in the "high double digits," at 25 percent to 30 percent, Walsh said.
Insurance carriers attributed the increases to rising costs of prescription drugs and other health care and rising demand for medical services.
In addition, insurers cited annual increases in reimbursement rates to health care providers such as hospitals, doctors and pharmaceutical companies; a rising number of office visits and other services; and a greater portion of health care costs borne by insurers as health care costs continue to rise and deductibles and copayments remain unchanged.
State and federal taxes and fees, including those related to the ACA, have a "significant impact on health care," insurers said.
Insurers also said increases are due to action by
Insurers that submitted rate requests are
The state agency expects to issue final rulings in September. Open enrollment for the 2019 coverage year begins
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