Connecticut individual plans are profitable
Individual coverage in Connecticut, , has been more profitable than most states. From 2011 through 2018, each month $55 of premiums went to profit in Connecticut, the 15th highest profitability among states and above the US average of $47. Individual plans in Massachusetts and New York were far less profitable, while plans in New Jersey were more profitable than Connecticut’s plans.
However, Connecticut is about average among states in the share of premiums that are paid out in claims. Note, that this measure is similar but not equivalent to the medical loss ratio. Individual plans in New York and Massachusetts devote far more to medical claims than Connecticut, New Jersey or the US average.
Both US and Connecticut plans became much more profitable both in 2015/2016, but not Massachusetts or New York plans.
Also in 2015/2016, the share of premiums devoted to medical claims for individual plans in both Connecticut and the US began to drop.