Health Insurance Rate Filing - Aetna Life Insurance Company (Large Group)
Rate request: 13.6 percent increase
Decision: Approved August 29, 2013
On August 2, 2013, Aetna Life Insurance Company filed a rate increase request of 13.6 percent on its Essential premier Health Insurance plans. The plan is only available to members of the American Association of Retired Persons (AARP) as part of a group association trust.
The company said the new rates reflect an increase in the cost of medical services and demand for those services. Aetna calculates “trend” – the impact of those factors – to be about a 9.5 percent increase on premium rates. Aetna stated it is also factoring in a 4.1 percent increase to reflect fees associated with the federal health care reform law.
After an actuarial review, the Department determined that Aetna’s projected costs and assumptions on the impact of trend were appropriate and on August 29, 2013 approved the rate request.
The new rates take effect on January 1, 2014 for 335 policyholders in Connecticut
Content Last Modified on 9/20/2013 3:01:10 PM