CID: Health Insurance Rate Filing - CIGNA Healthcare Of Connecticut (Large Group HMO)

Health Insurance Rate Filing - CIGNA Healthcare Of Connecticut (Large Group HMO)


 
Rate Request: Average increase of 1.7% for medical and pharmacy plans
 
Decision: Under Review
 
Public Comment Period: April 30, 2015 to May 29, 2015
 

On April 13, 2015, CIGNA Healthcare of Connecticut filed a requested average rate increase of 1.7 percent on large employer group HMO policies for employers with 51 or more workers.

In its filing, the company cited an increase in medical and pharmacy costs as well as the impact of fees associated with the Affordable Care Act. CIGNA projected that the new rate, if approved, would meet the federal medical loss ratio threshold of 85 percent, meaning it expects to spend at least 85 cents of every premium dollar on medical services. Because the rats are projected to meet this threshold, CIGNA said it “does not expect to pay rebates on its CT HMO population in 2015.”

If approved, the new rate will take effect on approval.

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


Content Last Modified on 4/29/2015 11:26:46 AM