Home Benefits State leaders call for hearing after medical insurance corporations propose rate increases

State leaders call for hearing after medical insurance corporations propose rate increases

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HARTFORD, CT (WFSB) – Local and state leaders are calling for a public hearing after several insurance firms proposed double digit rate increases for 2023.

In accordance with the Attorney General’s office, the typical increase request is 20-percent for people and 14-percent for small groups.

Attorney General William Tong was joined by other state representatives and healthcare advocates Wednesday to demand a proper hearing.

Tong would really like the nine corporations who’re requesting rate increases to clarify under oath why their rates are significantly increasing.

A few of those corporations include Aetna Life Insurance, Cigna Health and Life Insurance, ConnectiCare, and United Healthcare Insurance.

Eyewitness News reached out to all of those corporations.

Up to now we’ve heard back from ConnectiCare. They said in a press release their rates are based on several aspects, including impacts of COVID and the present market.

ConnectiCare has requested a rate increase for our individual and small group plans for 2023. We remain extremely mindful of the impact that rate increases have on our members and strive to maintain our plans as fairly priced as possible inside the reality of today’s health care environment. Our proposed rates are based on several aspects, including medical and pharmacy cost trends, together with the continued impacts of COVID-19 on our members’ utilization of services including obtaining delayed care. Also, the legislative and regulatory environments proceed to present market challenges outside of the corporate’s control, including the lack of the improved Advanced Premium Tax Credits (APTC) provided through the American Rescue Plan Act (ARPA) set to run out in 2022, and state-mandated advantages. We’re committed to providing Connecticut residents with high-quality health plans, as we’ve got been for greater than 40 years.

“Then come before us and explain it okay if you’ve good reasons and these increases as high as 30-percent are defensible come and defend it,” said Tong.

Proposed medical insurance rate increases

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