Health Insurance Rate Filing - Oxford Health Plans (Large Group)
Rate request - Range from 1.6% to 6.9% increase
Decision - Under Review
Public Comment Period: January 25, 2013 to February 14, 2013
On January 17, 2013, Oxford Health Plans filed a request to raise premium rates an average of 1.8 percent, with a range of 1.6 percent to 6.9 percent, for large employer group medical policies for employers with 51 or more workers. The request also includes a 3.5 percent decrease of the base rate; however the impact of trend – the increased cost and demand of medical (10.7 percent) and pharmacy (11.3 percent) services – resulted in the slight overall increase. In its filing, the company also noted that the impact of federal health care reform is minimal.
If approved the new rates would take effect May 1, 2013 for approximately 2,100 policyholders in Connecticut that provide health coverage for about 4,700 employees and their dependents.
Content Last Modified on 1/24/2013 10:26:48 AM