The Connecticut Insurance Department on Saturday sliced the proposed 2016 rate hikes made by nearly all health insurance providers, and in some cases, lowering the rates below current levels.
However, the final decision on the rate proposal that impacts the most people – the 50,000 lives covered under Anthem’s individual insurance exchange plan – will not be made until Thursday, since the company has been asked to recalculate its request for a 4.7 percent increase following a July 27 public hearing.
Proposals by ConnectiCare for a 9.8 percent increase on 34,000 individual policyholders and by Golden Rule for an 18.5 percent increase on 3,414 individual policyholders also will receive final decisions after the companies recalculate by Thursday.
The rest of the 17 proposals did receive their final ruling on Saturday:
- ConnectiCare’s original request for a 5.6 percent increase for its small group plan for 47,883 policyholders was revised downward to a 0.5 percent decrease;
- Aetna’s requested 0.1 percent increase for its small group plan covering 40,381 people was revised downward to a 3.8 percent decrease;
- Anthem’s original request for a 7.15 percent decrease on its small group plan for 40,000 people was revised further down to a 9.9 percent decrease;
- ConnectiCare’s original 2 percent increase proposal for its individual insurance exchange plan for 39,850 policyholders was revised to a 1.3 percent decrease;
- Oxford Health’s proposed 1.2 percent increase for its small group plan covering 25,682 people was revised downward to a 0.2 percent increase;
- HealthyCT’s proposed 13.96 percent increase for its individual exchange plan covering 23,485 people was revised downward to a 7.2 percent increase;
- Aetna’s proposed 5.6 percent increase for its individual plan covering 7,291 people was revised downward to a 1.4 percent increase;
- Harvard Pilgrim’s proposed 4.3 percent increase for its small group plan covering 6,240 people was revised downward to a 1.7 percent increase;
- HealthyCT’s proposed 6.01 percent increase on its small group exchange plan covering 6,139 people was revised downward to a 4.8 percent increase;
- Oxford Health Plans’ proposed 0.5 percent increase for its plan covering 3,450 policyholders was revised upward to a 1.6 percent increase;
- Harvard Pilgrim’s proposed 7.2 percent increase for its small group plan covering 3,360 people was revised downward to a 4.6 percent increase;
- UnitedHealthcare’s proposed 12.4 percent increase for its individual exchange plan covering 1,686 policyholders was revised downward to a 5.5 percent increase;
- UnitedHealthcare’s proposed 32.9 percent increase for its individual plan covering 712 people was revised downward to a 21.7 percent increase;
- Cigna’s proposed 14.27 percent increase for its individual plan covering 660 people was revised downward to a 9.55 percent increase;
- ConnectiCare’s proposed 5.2 percent increase for one of its individual plans covering 435 people was revised downward to a 5.1 percent increase;
- UnitedHealthcare’s proposed 1.2 percent increase on its small group exchange plan covering 229 people was revised downward to a 0.2 percent increase;
- ConnectiCare’s requested 8.6 percent increase for its small group plan covering 48 people was revised downward to a 2.5 percent increase.
All the new rates go into effect Jan. 1.
