Health Insurance Rate Filing - ConnectiCare Insurance Company (Individual Indemnity)
Rate request: 1.4 percent average increase
Decision: Under Review
Public Comment Period: August 27 to September 15, 2014
On August 17, 2014, ConnectiCare Insurance Company filed a request to increase rates an average of 1.4 percent on individual health insurance indemnity policies that are marketed outside Access Health CT, the state-sponsored health insurance exchange. This average increase of 1.4 percent has a range of -23.0 percent to 7.9 percent.
There are currently 12,500 of these policies in force in Connecticut.
The company said it is requesting the increase to account for a 10.6 percent change in the “trend,” a pricing factor reflecting medical inflation and an increased demand for medical services The company said it has also factored in the affect of fees and taxes associated with the Affordable Care Act.
If approved, the rate change would take effect January 1, 2015.
Content Last Modified on 8/26/2014 10:27:51 AM