Lawmakers urge state regulators to reject double-digit insurance increases

For individual coverage, ConnectiCare wants an average 25% increase for next year. For small business plans, Cigna is asking for 20% more and United HealthCare is requesting 14%.

John Craven

Aug 12, 2022, 9:26 PM

Updated 614 days ago

Share:

Lawmakers from both parties are lining up against massive rate hikes that six health insurance carriers are requesting. On Monday, state regulators will question the companies at a public hearing. You can weigh in too.
For individual coverage, ConnectiCare wants an average 25% increase for next year. For small business plans, Cigna is asking for 20% more and United HealthCare is requesting 14%.
You can see if your carrier is requesting a rate increase here.
On Friday, lawmakers had blunt words about the proposed hikes.
"These rate increase requests are absolutely jaw-dropping,” said Sen. Richard Blumenthal. “In fact, stomach-turning.”
Republicans also oppose the increases.
The Connecticut Citizen Action Group says the increases are based on overly inflated cost projections, especially when carriers are reporting record profits.
"Last year, Anthem Insurance Company had a 33% increase in profits over the year before,” said CCAG executive director Tom Swan.
Insurers attribute the proposed increases to rising health care costs and new state laws, including a cap on out-of-pocket insulin costs.
In a statement, the Connecticut Association of Health Plans said: "As pharmaceutical prices rise and reimbursements to hospitals and other providers increase so, too, do premiums. The same is true when consumers utilize more health care services.”
In their rate filings, carriers also pointed to enhanced Affordable Care Act subsidies that were set to end. But now, Congress is extending the subsidies until 2025 – part of the new Inflation Reduction Act.
"Subsidies only account for one factor in the equation,” the CAHP statement continued. “At the time that carriers were required by law to submit their rates, continuation of the subsidies remained in question.”
The General Assembly Insurance and Real Estate Committee co-chair says insurance companies are basing their increases on worst-case scenarios that are extremely unlikely.
"They are betting on a death spiral,” said state Sen. Matt Lesser (D-Middletown). “They are betting on the Affordable Care Act to go away, and they are wrong."
Blumenthal added: "The request for this huge rate increase collapses like a house of cards under the most slight scrutiny."
These rate hikes are not a done deal. The Connecticut Department of Insurance will hold a public hearing Monday at 9 a.m. in Room 1-D of the Legislative Office Building in Hartford. You can sign up in person 30 minutes before the hearing begins, or submit written comments here.


More from News 12
0:21
Criminal prosecutors take over Bridgeport’s ballot fraud cases

Criminal prosecutors take over Bridgeport’s ballot fraud cases

2:21
Cooler temperatures, rain expected in Connecticut for the rest of the week

Cooler temperatures, rain expected in Connecticut for the rest of the week

2:13
Time running out for hundreds of bills at state Capitol

Time running out for hundreds of bills at state Capitol

1:51
Ceremony held in Greenwich to mark 1 year anniversary with Ukrainian sister city

Ceremony held in Greenwich to mark 1 year anniversary with Ukrainian sister city

0:27
Norwalk, Fairfield and Wilton fire crews assist Westport Fire Dept. in Hunt Club Lane house fire

Norwalk, Fairfield and Wilton fire crews assist Westport Fire Dept. in Hunt Club Lane house fire

0:20
Firefighter injured when truck crashes into Shelton condo

Firefighter injured when truck crashes into Shelton condo

2:24
Connecticut joins partnership to hold airlines accountable for consumer complaints

Connecticut joins partnership to hold airlines accountable for consumer complaints

0:32
Police: Ax-wielding man faces charges in Fairfield chase

Police: Ax-wielding man faces charges in Fairfield chase

0:22
Police: Stamford woman faces larceny charges for phony check in Westport

Police: Stamford woman faces larceny charges for phony check in Westport

2:07
FAFSA new application delay is affecting students across Connecticut

FAFSA new application delay is affecting students across Connecticut

0:30
Sikorsky plans to lay off employees following cancellation of U.S. Army program

Sikorsky plans to lay off employees following cancellation of U.S. Army program

0:41
Police: 2 suspects arrested for narcotics and illegal firearms in Bridgeport

Police: 2 suspects arrested for narcotics and illegal firearms in Bridgeport

Guide: Stay safe while traveling through work zones with these 6 tips

Guide: Stay safe while traveling through work zones with these 6 tips

2:34
Petitions fight parking plan approved for downtown Westport

Petitions fight parking plan approved for downtown Westport

0:18
Police: Waterbury man violated his restraining order and sexually assaulted victim in their home

Police: Waterbury man violated his restraining order and sexually assaulted victim in their home

0:34
Police: Bronx man arrested in Milford for aggressively banging on someone's motel room door, brandishing gun

Police: Bronx man arrested in Milford for aggressively banging on someone's motel room door, brandishing gun

0:25
Torrington woman pleads guilty to trading fake community service letters for cash, gift cards

Torrington woman pleads guilty to trading fake community service letters for cash, gift cards

0:39
CT chief public defender under fire following accusations of bullying, insubordination

CT chief public defender under fire following accusations of bullying, insubordination

2:28
Exclusive: Lost Stamford High School class ring turns up at seminary after almost 80 years

Exclusive: Lost Stamford High School class ring turns up at seminary after almost 80 years

2:18
Group recommends traffic stop audits for every officer after State Police ticket probe

Group recommends traffic stop audits for every officer after State Police ticket probe