The public will have a chance to weigh in on insurance companies’ request to raise the cost of individual health plans by an average of 20.4% next year.
The State Insurance Department has scheduled a public hearing for August 15 from 9 am. The hearing, normally held at a state office building downtown, will be held at the Legislative Office Building on Capitol Avenue in Hartford. The event was moved to accommodate what is expected to be a larger than usual crowd.
The hearing will have a hybrid format, with some people testifying in person and others virtually. Insurance company representatives will have time to explain their rate increase requests and insurance department officials will ask questions.
Anyone interested in filing virtually can sign up by emailing cid.RateFilings@ct.gov with their name and written comments by noon on August 12.
People who wish to testify in person can register at the Legislative Office Building on the same day of the hearing, from 8.30am. Oral observations will be limited to three minutes per person.
In addition to the substantial average increase for individual plans, insurers selling policies on and off Connecticut’s Affordable Care Act Exchange are looking for a 14.8 percent average increase in small group plans.
The increments requested are substantially higher than those sought last year for health policies in 2022. Carriers in 2021 asked for an average increase of 8.6% in individual plans and 12.9% in small group plans.
The proposals have drawn criticism from health advocates, who fear more people will drop coverage because they can’t afford it.
“It’s mind-blowing,” Lynne Ide, program manager for outreach and engagement at the Universal Health Care Foundation of Connecticut, said last month. “Given these fee requests, the ranges are off the charts.
“Our big concern right now is that, along with inflation and the fallout from COVID, these proposed increases cause problems. Our concern is that people will look at it and decide not to have health coverage, because they just don’t can allow”.
“My jaw hit the floor, obviously,” added Ted Doolittle, state health advocate. “I am deeply concerned that people will be left without coverage because of these high prices. It is up to insurance companies and providers to explain to the people of the state why this is inevitable and there is no alternative.”
Attorney General William Tong requested a special hearing to allow officials to gather evidence and scrutinize insurers about their proposed increases. Officials could cross-examine witnesses and present their own evidence in a public setting.
To date, the insurance department has not responded to this request, instead opting for the traditional informational hearing format it has followed in recent years.
Three insurers sell policies on the exchange: Anthem Health Plans, CTCare Benefits Inc. and ConnectiCare Insurance Company Inc.
Anthem asked for an average increase of 8.6 percent for individual policies covering 27,698 people. The proposed changes range from a 1.8 percent decrease to a 16.1 percent increase, according to the plan.
The company also sought an average 3.6% increase in small group policies covering 19,271 residents. Suggested changes range from a 1.2% decrease to a 26.3% increase.
CTCare Benefits asked for an average increase of 24.1% in individual plans covering 75,003 people. The proposed changes range from an increase of 18.7% to 33.2%, depending on the policy.
It was also looking for an average increase of 22.9% in small group plans covering 3,476 residents (increases range from 20% to 28.9%).
ConnectiCare Insurance Company, which sells only individual policies on the exchange, asked for an average increase of 25.2 percent for plans that cover 8,782 people. Suggested hikes range from 17.1% to 32.2%.
The insurance department will make a decision this fall on how much of an increase, if any, to give to the various health plans.
Open enrollment for 2023 health policies begins November 1.