Health Insurance Rate Request for 2018
Public comment period: Begins May 8, 2017 and
will remain open until July 1, 2017
The Connecticut Insurance Department is reviewing initial rate filings for individual and small group plans marketed in Connecticut. These rates are proposed for the 2018 coverage year. Companies had until May 15 to make any adjustment to their initial filings.
Wednesday, June 14, 2017
Location: CT Insurance Department
153 Market Street, Hartford, 7th floor conference room
- John M. Russo; Anthem Blue Cross/Blue Shield (Attorney)
- Michael G. Durham; Donahue Durham & Noonan, P.C. (Attorney)
- James Augur; Regional Vice President, Sales
- Tu Nguyen; Director of Actuarial Services
- Bradford S. Babbitt; Robinson & Cole, LLP (Attorney)
- Roberta Wachtelhausen; Senior Vice President & Chief Sales and Marketing Officer
- Neil Kelsey; Chief Actuary
- Mary van der Heijde, Principal and Consulting Actuary, Milliman
Insurance Department Participants:
- Jared Kosky (Hearing Officer)
- Paul Lombardo (Actuary)
- Kristin Campanelli (Attorney)
Commissioner Wade announced
that the hearings will be held at the Department’s 7th floor hearing room on 153 Market Street, a public building that also houses the federal Social Security Office, Capital Community College, and the Hartford Board of Education. Parking tickets will be validated for those parking in the Morgan Street Garage
to provide the public with free parking. The Department’s building is also on CT Transit bus lines.
- Hearings - The public will have two opportunities during the hearings to comment – at the beginning and end of each hearing – limited to 3 minutes per person.
- Online comment - The public can continue to provide online comment for each rate filing, which has been open since May 1 and the record will remain open through close of business July 1, 2017. The online comment section can be accessed by clicking on the individual rate filing.
- Written comment - Written comments may be filed with the Insurance Department through the close of business July 1, 2017 by mailing or delivering the statements to the Connecticut Insurance Department, P.O. Box 816, Hartford, CT 06142. All of the written comments will be posted on the Department Web site.
The Insurance Department does not discriminate on the basis of disability in admission to, access to, or operations of its programs, services or activities, in accordance with Title II of the Americans with Disabilities Act of 1990. Individuals requiring auxiliary aids for communication or other accommodation should contact Patty Tiberio at (860) 297-3932.
SCOPE OF FILING
A total of 10 health insurance companies have made 14 filings on individual and small group plans that provide coverage to approximately 270,000 people in the state. The average rate requests range from 3.6 percent to 33.8 percent.
In their filings, companies have cited key cost drivers:
Trend: Trend is a factor that accounts for rising health care costs, including the cost of prescription drugs, and higher demand for medical services.
Risk Pool Experience: Carriers are seeing deteriorating claims experience continue into the first quarter of 2017.
Health Insurance Tax: The federal Health Insurance Tax is returning for 2018, which accounts for 2-3% of premium. There had been a moratorium on the tax.
Other Factors: Carriers have filed to take into consideration the perceived lack of strong enforcement of the individual mandate, the lack of stability of the risk adjustment mechanism and the evolving participation of carriers in the market.
The Rate Filing Process
Insurance Department will conduct actuarial reviews on each filing to determine if they are justified and will either approve, reject or modify the request. A public comment section is available with each filing.
Filings from each company are below. Click "Select" to view an individual filing, which includes executive summary that provides a brief overview the filing and a section to provide public comment.
Content Last Modified on 6/19/2017 9:33:36 AM