Insurance Commissioner Andrew Mais speaks during a meeting. Credit: Christine Stuart / CTNewsJunkie
Despite calls for a formal public hearing on recent health insurance rate increases requested by Connecticut insurance companies, the state Department of Insurance has decided against it, but in change agreed to move the audience to a larger public place.
The hearing will be held at the Legislative Office Building in Hartford on Monday, August 15. The public will be able to participate both virtually and in person.
It will be an informational hearing, meaning insurance regulators will be able to respond to the public and ask questions of representatives from insurance companies seeking to raise their rates by an average of 20.4% for plans from 2023.
The public hearing will focus on plans offered both on and off the exchange from CIGNA Health & Life, CTCare Inc., CTCare Benefits Inc. and ConnectiCare Insurance Company Inc.
Members of the public may submit written testimony on the proposals from Aetna, Anthem Health Plans and United Healthcare/Oxford.
Attorney General William Tong requested a formal hearing to allow the state to scrutinize insurance companies on the basis of requested rate increases.
“We have to try what [insurers] they say and understand what’s behind the numbers and put people under oath and ask them questions and really get to the bottom of it,” Tong said. “Yes, I want to litigate this issue because the people of this state don’t deserve nothing less than that.”
Insurance Commissioner Andrew Mais has said the agency holds annual hearings on rate requests, and this year’s is expected to take place in early August.
“This hearing process will happen again this year, and the public is welcome to testify. The Department is fully committed to consumer protection and transparency, which is why our hearings are open to the public and webcast CT-N of public affairs,” Mais said.
But the average rate increase of 20.4% for 13 plans offered on and off the exchange is far higher than previous requests. The timing couldn’t be worse for consumers with inflation at a 40-year high.
In comparison, the average rate request for 2022 was 8.6%.
Connecticut insurers have attributed the requested rate increases to factors such as rising costs of medical care and pharmaceuticals. In a statement, ConnectiCare spokeswoman Kim Kann said the increases were also affected by members who have begun using services after delaying care during the COVID-19 pandemic and the expiration of enhanced tax credits funded by the American Rescue Plan Act.
“We remain acutely aware of the impact rate increases have on our members and strive to keep our plans as fair as possible within the realities of today’s health care environment,” Kann said.