Insurance Dept. approves insurer rate increases 85% of the time

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A report by the CT’s Office of Legislative Research on rate increases approved for the five largest health insurance companies, found that the CT Insurance Dept. (CID) sided with insurers in 22 cases out of 26 since 2006. The average approved rate increase was 12%. This analysis covers a small number of health plan rate increases in the state; CID does not have statutory review authority over many plans. The five largest companies are Anthem, HealthNet, ConnectiCare, United and Aetna, in that order. None of United’s previous products are subject to CID review and are not included in OLR’s report. HealthNet will soon no longer offer coverage in CT; CID recently approved United’s purchase of HealthNet’s subscriber information despite concerns by providers and consumer advocates.
Ellen Andrews