Lawmakers urge state regulators to reject double-digit insurance increases

For individual coverage, ConnectiCare wants an average 25% increase for next year. For small business plans, Cigna is asking for 20% more and United HealthCare is requesting 14%.

John Craven

Aug 12, 2022, 9:26 PM

Updated 646 days ago

Share:

Lawmakers from both parties are lining up against massive rate hikes that six health insurance carriers are requesting. On Monday, state regulators will question the companies at a public hearing. You can weigh in too.
For individual coverage, ConnectiCare wants an average 25% increase for next year. For small business plans, Cigna is asking for 20% more and United HealthCare is requesting 14%.
You can see if your carrier is requesting a rate increase here.
On Friday, lawmakers had blunt words about the proposed hikes.
"These rate increase requests are absolutely jaw-dropping,” said Sen. Richard Blumenthal. “In fact, stomach-turning.”
Republicans also oppose the increases.
The Connecticut Citizen Action Group says the increases are based on overly inflated cost projections, especially when carriers are reporting record profits.
"Last year, Anthem Insurance Company had a 33% increase in profits over the year before,” said CCAG executive director Tom Swan.
Insurers attribute the proposed increases to rising health care costs and new state laws, including a cap on out-of-pocket insulin costs.
In a statement, the Connecticut Association of Health Plans said: "As pharmaceutical prices rise and reimbursements to hospitals and other providers increase so, too, do premiums. The same is true when consumers utilize more health care services.”
In their rate filings, carriers also pointed to enhanced Affordable Care Act subsidies that were set to end. But now, Congress is extending the subsidies until 2025 – part of the new Inflation Reduction Act.
"Subsidies only account for one factor in the equation,” the CAHP statement continued. “At the time that carriers were required by law to submit their rates, continuation of the subsidies remained in question.”
The General Assembly Insurance and Real Estate Committee co-chair says insurance companies are basing their increases on worst-case scenarios that are extremely unlikely.
"They are betting on a death spiral,” said state Sen. Matt Lesser (D-Middletown). “They are betting on the Affordable Care Act to go away, and they are wrong."
Blumenthal added: "The request for this huge rate increase collapses like a house of cards under the most slight scrutiny."
These rate hikes are not a done deal. The Connecticut Department of Insurance will hold a public hearing Monday at 9 a.m. in Room 1-D of the Legislative Office Building in Hartford. You can sign up in person 30 minutes before the hearing begins, or submit written comments here.


More from News 12
1:19
Police: 1 man dead, another injured in Edenwald double shooting

Police: 1 man dead, another injured in Edenwald double shooting

1:44
Sun and clouds with July-like temperatures for NYC this week

Sun and clouds with July-like temperatures for NYC this week

1:30
Madison Square Boys & Girls Club alumni fight to find a buyer following closing announcement of Crotona Park location

Madison Square Boys & Girls Club alumni fight to find a buyer following closing announcement of Crotona Park location

1:43
‘Ride of Silence’ takes cyclists on ghost bike tour, honors victims of traffic accidents

‘Ride of Silence’ takes cyclists on ghost bike tour, honors victims of traffic accidents

1:00
FDNY firefighter injured during Bronx house fire released from hospital

FDNY firefighter injured during Bronx house fire released from hospital

1:42
Bronx Week: Festivities wrap up with parade and food festival

Bronx Week: Festivities wrap up with parade and food festival

0:51
FDNY responds to 2 overnight fires in the Bronx; 2 injured

FDNY responds to 2 overnight fires in the Bronx; 2 injured

1:52
FDNY: Portion of roof collapses onto sidewalk in Williamsburg

FDNY: Portion of roof collapses onto sidewalk in Williamsburg

1:39
NYPD: 2 armed robberies involving mopeds in Brooklyn believed to be connected

NYPD: 2 armed robberies involving mopeds in Brooklyn believed to be connected

1:45
 Missed swim lessons due to COVID-19 may be contributing to rise in child drownings

Missed swim lessons due to COVID-19 may be contributing to rise in child drownings

1:58
Brooklyn residents say there is an urgent need for more birth options in NYC

Brooklyn residents say there is an urgent need for more birth options in NYC

0:23
NYPD: Bullet grazes woman in Soundview; 3 suspects wanted for shooting

NYPD: Bullet grazes woman in Soundview; 3 suspects wanted for shooting

1:50
Al Quiñones Playground: Park renamed in honor of Longwood community activist

Al Quiñones Playground: Park renamed in honor of Longwood community activist

1:47
NYPD: 30-year-old man fatally shot, another injured in Brownsville

NYPD: 30-year-old man fatally shot, another injured in Brownsville

0:17
Authorities: George Washington Bridge climber in custody

Authorities: George Washington Bridge climber in custody

1:38
Cyclists pedal through Brooklyn during Haitian Flag Day Ride & Fête

Cyclists pedal through Brooklyn during Haitian Flag Day Ride & Fête

0:29
Grandparents Around the World hosts 14th annual Grandparents Ball

Grandparents Around the World hosts 14th annual Grandparents Ball

1:46
Somber ceremony in Bissel Garden reflects on the impacts, lives lost during COVID-19 pandemic

Somber ceremony in Bissel Garden reflects on the impacts, lives lost during COVID-19 pandemic

1:43
CDC urges people to get vaccinated amid resurgence of mpox

CDC urges people to get vaccinated amid resurgence of mpox

1:41
Andrea Navedo, Antwan ‘Amadeus’ Thompson among inductees into Bronx Walk of Fame

Andrea Navedo, Antwan ‘Amadeus’ Thompson among inductees into Bronx Walk of Fame