Health Insurance Rate Filing - ConnectiCare Insurance Company (Individual POS)
Rate request: 26.6 percent increase
Decision: Under Review
Public Comment Period: November 6, 2013 through November 26, 2013
On October 29, 2013, ConnectiCare Insurance Company, Inc. filed a request to increase rates approximately 26.6 percent on certain individual Point of Service (POS) insurance policies sold before March 23, 2010 and are considered grandfathered under the federal health care reform law. There are approximately 1,500 individuals who have these particular plans.
The new rates account for ongoing increases in the cost of medical services and demand for those services, also known as “trend.” ConnectiCare Insurance Company, Inc. is estimating the impact of “trend” at 10.48 percent for medical and 11.30 percent for pharmacy benefits.
Content Last Modified on 11/5/2013 2:48:36 PM