The Connecticut Insurance Department is asking exchange carriers Anthem and ConnectiCare Benefits Inc. to submit a supplemental filing that contemplates the absence of Cost Sharing Reduction (CSR) payments for 2018 and to apply that impact only on certain exchange plans.
The request, announced today, comes as the Insurance Department continues its actuarial review of health insurance rate filings for the 2018 coverage year and amid market uncertainty surrounding the long-term funding of CSR payments to provide financial assistance for consumers.
CSR subsidies are paid to insurance companies for reducing certain healthcare costs — like deductibles and co-pays — for low-income people.
President Donald Trump has threatened to end those subsidies as part of his efforts to repeal the Affordable Care Act.
“The Department has not made a final determination on rates for 2018. This supplemental filing will give the Department maximum flexibility in making final determinations for health insurance rates on the exchange within the tight time limits and have rates set for open enrollment in November,” Commissioner Katharine L. Wade said.
This supplemental filing is for the CSR issue only. Carriers are not permitted to make changes to any other factors in their existing filings. The supplemental filings must be submitted to the department by the close of business Aug. 30.
