CID: Health Insurance Rate Filing - Aetna Health Inc. (CT) - Large Group HMO

Health Insurance Rate Filing - Aetna Health Inc. (CT) - Large Group HMO

Rate request: 1.7 percent average increase

Decision: Approved February 9, 2016

On January 4, 2016, Aetna Health Inc. filed a request to increase rates an average 1.7 percent on its large group health insurance policies for employers with 51 or more workers.

There are 54 policies in force in this block of business that provide coverage for about 2,000 employees and their dependents.

In calculating the rates, the company noted it was factoring in impact of medical inflation, known as “trend,” which takes in to account the increase in medical costs and the demand for medical services. The company calculated a trend impact of 8.3 percent for medical services and 10.7 percent for pharmacy costs. The new rate also reflects changes in benefits and, based on the experience of past years, a downward adjustment in what the company expects to pay in claims costs for the coming year. The company also has factored in fees associated with the Affordable Care Act.

After an actuarial review, the Department determined that the company’s calculations were appropriately applied to what it expected to spend on medical services in the coming year. As a result, the Department approved the rate request on February 9, 2016.

The new rates will take effect for policies issued or renewed on or after March 1, 2016.


Find the filing, brief summary and public comment section here at Health Insurance Rate Filings

Content Last Modified on 2/17/2016 10:26:09 AM