Health Insurance Rate Filing - United Healthcare Insurance Co. (Small Group Indemnity)
Rate Filing: 2.5 percent rate increase
Decision: Under Review
Public Comment Period: June 6 to June 26, 2014
On May 30, 2014, United Healthcare Insurance Company submitted a rate filing to the Department that would increase base rates by 2.5 percent on its small group indemnity plans used by employers with one to 50 workers. There are currently 86 policies in effect in Connecticut.
The company stated in its rate filing that the increase “is primarily being driven by increased health care expenses.” United Healthcare has also projected that the new rates will satisfy the 80 percent Medical Loss Ratio (MLR) required by the federal care reform law.
The Insurance Department does not have statutory authority to approve or deny rates for small group indemnity businesses. This type of filing is subject to review as part of requirements of the federal health care reform law.
The new rates will take effect January 1, 2015.
Content Last Modified on 6/5/2014 11:47:53 AM