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: 7.7 percent increase

Decision: Disapproved, limited to a 7.5 percent increase on November 7, 2016

On September 30, 2016, Aetna Health Inc. filed a request to increase rates 7.7 percent on its large group health insurance policies for employers with 51 or more workers.

There are 72 policies in force in this block of business that provide coverage for about 23,000 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 about 12 percent.

After an actuarial review, the Department determined the company overestimated the impact of medical inflation or “trend.” As a result, the Department disapproved the rate increase request of 7.5 percent and instead limited it to 7.5 percent on Nov. 7, 2016.

The new rates take effect for policies issued or renewed on or after January 1, 2017.


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

Content Last Modified on 11/7/2016 11:42:15 AM