Health Insurance Rate Filing - ConnectiCare Inc. (Individual)
Rate request: 21.5 percent decrease
Decision: Under Review
Public Comment Period: August 26 to September 14, 2014
On August 17, 2014, ConnectiCare, Inc. submitted a rate filing requesting a 21.5 percent rate decrease on individual health plans marketed outside of Access Health CT, the state sponsored health insurance exchange.
The policies were first offered in 2014 and provide major medical and prescription drug coverage, compliant with the Affordable Care Act.
Because this is a relatively new product the company calculated the rates based on the claims cost experience from its existing non-grandfathered individual risk pool of ConnectiCare, Inc. from January 2013 to December 2013.
The company is projecting a trend impact of approximately 10.6 percent on rates in 2015.
If approved the new rates would take effect, January 1, 2015 for 75 members.
Content Last Modified on 8/26/2014 10:25:30 AM