Public Hearing Drives Down Insurance Rates

3 rate changesThe final decision on the Anthem insurance rate request is in.

After initially requesting a 12.5% increase for 2015 rates, Anthem has now agreed to an overall average decrease of 0.1%.  The changes are in line with the recalculations recommended by the Insurance Department.  The department rejected Anthem’s rate request last month, following a public hearing requested by the Healthcare Advocate, Victoria Veltri.  We agree with the Healthcare Advocate and Attorney General Jepson, “…the transparency of the hearing process… contributed significantly to the department’s decision to deny Anthem’s application.”

An even more significant rate decrease, an average drop of 8.5%, was approved by the Insurance Department for Connecticut’s only non-profit insurer, HealthyCT.   This decrease should mean that HealthyCT’s rates may end up being more competitive than they were in 2014.  Meanwhile, ConnectiCare will be increasing rates by an average of 3.1% in 2015.  Overall, differences in rates between the plans are likely to be minimal, perhaps leading customers to make selections based on other factors such as provider networks and customer service.

Depending on the Anthem plan, actual rate changes will vary from a 15.5% decrease to a 4.2% increase.  Scroll to the bottom of this CT Mirror article to see rate changes by plan.

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