CID: Health Insurance Rate Filing - Oxford Health Plans (Large Group)

Health Insurance Rate Filing - Oxford Health Plans (Large Group)

Rate Filing Review: 2.4 percent increase
Decision: Under Review
Public Comment Period: October 10 to October 30, 2018

On October 1, 2018, Oxford Health Plans filed a request to increase premium rates an average of 2.4 percent next year on some large group health insurance plans. These are medical policies for employers with 51 or more workers.

The company states the increase is necessary to account for a 9 percent impact from the increasing cost of medical services and a greater demand for those services, a factor known as “trend.” The company said the rate calculation also takes into account a previously approved 3 percent decrease on the base rate.

If approved the new rates would take effect January 1, 2019 for approximately 2,500 policyholders in Connecticut that provide health coverage for about 4,200 employees and their dependents.

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

Content Last Modified on 10/11/2018 11:25:07 AM