Health Insurance Rate Filing ConnectiCare, Inc. (Small Group HMO)
Rate request: 1.4 percent average decrease for 1st Quarter of 2015
Decision: Under Review
Public Comment Period: September 10 through September 30, 2014
On August 25, 2014, ConnectiCare, Inc. filed a request to decrease its overall rates an average of 1.4 percent on certain small group HMO policies marketed outside Access Health CT, the state-sponsored health insurance exchange.
These policies, which cover approximately 10 workers and their dependents, provide health care coverage for businesses with 50 workers or fewer.
The company said the rate request does take into account the impact of trend, which reflects medical cost inflation and the demand for medical services. Company projected the impact of trend at approximately 10.5 percent and said while base rates are projected to increase 10.9 percent, other modifications will result in an overall average decrease of 1.4 percent.
If approved, the new rates would take effect January 1, 2015.
Content Last Modified on 9/9/2014 1:36:53 PM