Connecticut insurance department leaders are now considering health insurance increase in 2024. There are scheduled hearing so residents can comment on the suggested health insurance increase.
Connecticut insurance companies propose health insurance increase in 2024
Insurance companies selling policies on and off under the Affordable Care Act Exchange of Connecticut asked for an average health insurance increase of 12.4% on individual health plans next year and a 14.8% health insurance increase on small group plans. Attorney General William Tong said the proposed health insurance increase is unaffordable for too many Connecticut residents.
The Proposed Health Insurance Increase is smaller than sought for 2023 health plans but higher than in previous years.
The public will have a chance to consider the Health Insurance Increase at 9 a.m. on Aug. 21. Testimony of the Proposed Health Insurance Increase by residents can be shared in actual at the Connecticut Legislative Office Building, 300 Capitol Avenue in Hartford, or via virtual.
Three insurers proposed for Health Insurance Increase: Anthem Health Plans, CTCare Benefits Inc., and ConnectiCare Insurance Company Inc.
Anthem is seeking an average health insurance increase of 9.8% on individual plans that cover 33,939 people. The proposed health insurance increase ranges from 6.8% to 13.6%, depending on the health insurance policy.
The CTCare Benefits is asking for an average health insurance increase of 14.9% on small group plans that cover 27,565 people. The suggested health insurance increase ranges from 8.9% to 22.1%.
And ConnectiCare Insurance Company is seeking an average health insurance increase of 17.5% on individual policies that cover 11,954 people. The recommended health insurance increase ranges from 10.2% to 22.2%, depending on the plan.
Anyone to testify virtually for health insurance increase can sign up by sending an email to [email protected]. Final decisions are made in September.