Health Insurance Rates for 2015: Let the Competition Begin

Health insurers wishing to offer coverage through Access Health CT have filed their proposed 2015 rates with the Connecticut Insurance Department (CID).  Two insurers, Anthem and ConnectiCare, are requesting average rate increases of 12.5 percent and 11.8 percent respectively.  Meanwhile, HealthyCT, the new non-profit health insurance co-op plan, has requested to DECREASE rates by an average of 8.9 percent.  Another insurer, UnitedHealthcare, is applying to offer plans to individuals through Access Health CT for the first time in 2015.  To read a summary of what each insurer is requesting, go to the CT Mirror article here.

One of the fundamental pillars of the Affordable Care Act is that competition among health plans should hold insurance rates down.  It is discouraging to see several insurers requesting significant rate increases.  On the other hand, it is encouraging to see one carrier requesting to lower rates and a fourth insurer seeking to compete in the Access Health CT individual insurance marketplace.

CID actuaries will be reviewing the proposed rates.  Now is the time for consumers to weigh in.  Public comments on the 2015 rate filings can be submitted electronically through June 23 – just follow the instructions on the insurance department’s rate filing page.

 

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One Response to Health Insurance Rates for 2015: Let the Competition Begin

  1. Good post. I learn something totally new and challenging on blogs I stumbleupon everyday. It’s always exciting to read through content from other authors and practice something from other websites.

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