insurance
CID will hold rare public hearing on Anthem’s 2011 increase request
The CT Insurance Dept. has decided to hold a public hearing on Anthem’s requests for 2011 premium increases. The Commissioner was strongly criticized for approving Anthem increases of 47% for the end of this year with little review and no modification. Anthem has not yet submitted their proposal for 2011 rate increases, and the hearing…
Read MoreFeds urge CT Insurance Dept. to reverse Anthem 47% rate hike approval
HHS has sent a letter to CT Insurance Department (CID) Commissioner Sullivan asking him to reconsider the department’s approval of Anthem 47% health insurance rate hikes for next year. “The consumers of Connecticut expect and deserve transparency and a fact-based rationale as to why their rates are increasing,” according to the letter. The insurance department…
Read MoreOffice of Health Care Advocate saved CT consumers over a million dollars this quarter
CT’s Office of Health Care Advocate (OHA) returned $1.36 million in savings to health care consumers in our state between July and September of this year. OHA assists consumers struggling with insurance companies to access the care they need. So far this year, OHA has saved consumers $3.3 million in health costs. The savings include…
Read MoreHUSKY HMOs made $19 million profits last year; families paid $323.16 to HMO profits
At the very end of yesterday’s Medicaid Care Management Oversight Council meeting, DSS reported that the HUSKY HMOs made $18.8 million in profits on the program during 2009. This profit is on top of their administrative costs. Aetna made most of that profit — $14 million – despite having only one fourth of total enrollment.…
Read MoreNational health reform standards may not cover college health plans
The Wall Street Journal raises the question of whether the notoriously inadequate health plans offered to college students will be covered under national health reform regulations. While these plans are generally inexpensive they typically include caps on coverage and would not meet new standards on how much of premiums must be spent on health care.…
Read MoreSurvey predicts employee share of health insurance to rise 12.4% next year
Hewitt’s annual survey of large US employers estimates health costs to be $9,821 per worker in 2011, up from $9,028 this year. While total costs are expected to rise 8.8%, workers’ share of that bill will rise 12.4%, continuing a trend of shifting more costs onto consumers. From 2001 to 2011, while total premiums will…
Read More236,400 CT residents eligible for health care tax credits in 2014
A new report by Families USA estimates that $830 million in tax credits will be coming to 236,400 middle income CT residents to help pay for health coverage. The credits are structured on a sliding scale, targeted toward those who need assistance the most. The majority of people who will benefit have incomes just over…
Read MoreCT insurers propose double digit rate hikes
Once again CT health insurance companies are asking the CT Insurance Department for permission to charge very large premium increases, more than 20% in many cases, according to the Hartford Courant. Predictably, insurers are blaming rising medical costs and national health reform. Members of CT’s Congressional delegation and the Attorney General are objecting. The largest…
Read MoreWill Charter Oak survive?
An interesting story by Arielle Levin Becker at the CT Mirror asks whether Charter Oak will survive after Governor Rell leaves office. The best thing about Charter Oak is that people with pre-existing conditions are not excluded from coverage; under national health reform, that exclusion will be prohibited in all health insurance in 2014. It…
Read MoreAetna earnings up significantly, medical spending down
Despite higher unemployment and fewer people getting coverage at work, Aetna’s earnings were up last quarter by 42% over the same quarter last year. The company benefited from lower medical spending, allowing them to reserve more of consumers’ premiums for administration and profits. The proportion of premiums spent on medical care, the medical loss ratio,…
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