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: 18 percent average increase

Decision: Disapproved, limited to a 13% average increase on October 24, 2017

On September 29, 2017, Aetna Health Inc. filed a request to increase rates 18.0 percent on its large group health insurance policies for employers with 51 or more workers.

There are approximately 480 covered lives under this block of business.

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 9 percent percent for medical services and pharmacy costs.

After an actuarial review, the Department determined that the company overstated the impact of medical inflation or “trend.” As a result, the Department disapproved the rate request and limited it to an average increase of about 13 percent on October 24, 2017.

The new rates will take effect for policies issued or renewed on or after January 1, 2018.


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

Content Last Modified on 10/24/2017 11:30:37 AM