Lawmakers urge state regulators to reject double-digit insurance increases

For individual coverage, ConnectiCare wants an average 25% increase for next year. For small business plans, Cigna is asking for 20% more and United HealthCare is requesting 14%.

John Craven

Aug 12, 2022, 9:26 PM

Updated 614 days ago

Share:

Lawmakers from both parties are lining up against massive rate hikes that six health insurance carriers are requesting. On Monday, state regulators will question the companies at a public hearing. You can weigh in too.
For individual coverage, ConnectiCare wants an average 25% increase for next year. For small business plans, Cigna is asking for 20% more and United HealthCare is requesting 14%.
You can see if your carrier is requesting a rate increase here.
On Friday, lawmakers had blunt words about the proposed hikes.
"These rate increase requests are absolutely jaw-dropping,” said Sen. Richard Blumenthal. “In fact, stomach-turning.”
Republicans also oppose the increases.
The Connecticut Citizen Action Group says the increases are based on overly inflated cost projections, especially when carriers are reporting record profits.
"Last year, Anthem Insurance Company had a 33% increase in profits over the year before,” said CCAG executive director Tom Swan.
Insurers attribute the proposed increases to rising health care costs and new state laws, including a cap on out-of-pocket insulin costs.
In a statement, the Connecticut Association of Health Plans said: "As pharmaceutical prices rise and reimbursements to hospitals and other providers increase so, too, do premiums. The same is true when consumers utilize more health care services.”
In their rate filings, carriers also pointed to enhanced Affordable Care Act subsidies that were set to end. But now, Congress is extending the subsidies until 2025 – part of the new Inflation Reduction Act.
"Subsidies only account for one factor in the equation,” the CAHP statement continued. “At the time that carriers were required by law to submit their rates, continuation of the subsidies remained in question.”
The General Assembly Insurance and Real Estate Committee co-chair says insurance companies are basing their increases on worst-case scenarios that are extremely unlikely.
"They are betting on a death spiral,” said state Sen. Matt Lesser (D-Middletown). “They are betting on the Affordable Care Act to go away, and they are wrong."
Blumenthal added: "The request for this huge rate increase collapses like a house of cards under the most slight scrutiny."
These rate hikes are not a done deal. The Connecticut Department of Insurance will hold a public hearing Monday at 9 a.m. in Room 1-D of the Legislative Office Building in Hartford. You can sign up in person 30 minutes before the hearing begins, or submit written comments here.


More from News 12
2:00
Police: Man’s wallet blocks bullet during Coram shooting; suspect wanted

Police: Man’s wallet blocks bullet during Coram shooting; suspect wanted

1:31
Cloudy skies, breezy conditions and rain on Long Island

Cloudy skies, breezy conditions and rain on Long Island

0:44
NuHealth holds breast cancer screenings at Plainview-Old Bethpage Library

NuHealth holds breast cancer screenings at Plainview-Old Bethpage Library

0:49
Suffolk Sheriff’s Office holds 1st wellness conference at Suffolk Community College

Suffolk Sheriff’s Office holds 1st wellness conference at Suffolk Community College

0:13
Police probe shooting incident at Patchogue home

Police probe shooting incident at Patchogue home

1:55
Police: Drunk driver hits patrol car at scene of DWI crash; Suffolk officer hurt

Police: Drunk driver hits patrol car at scene of DWI crash; Suffolk officer hurt

0:23
West Islip man sentenced to 8 1/3 to 25 years for stealing millions from Williston Park school

West Islip man sentenced to 8 1/3 to 25 years for stealing millions from Williston Park school

0:25
Police: Man threw cellphone, injured officer responding to disturbance on road in Valley Stream

Police: Man threw cellphone, injured officer responding to disturbance on road in Valley Stream

0:19
Police: Suspect wanted for shooting at car in Riverhead

Police: Suspect wanted for shooting at car in Riverhead

1:09
The East End: Hamptons Handpoured

The East End: Hamptons Handpoured

2:06
Dozens of layoffs could be coming to Hicksville School District

Dozens of layoffs could be coming to Hicksville School District

1:45
Great Neck Plaza residents concerned about residential complex proposal

Great Neck Plaza residents concerned about residential complex proposal

1:52
Find fun, interactive activities for family and friends at Main Street Board Game Café in Huntington

Find fun, interactive activities for family and friends at Main Street Board Game Café in Huntington

1:40
Hungry students left with few options as eateries at Nassau Community College suddenly shut down

Hungry students left with few options as eateries at Nassau Community College suddenly shut down

2:08
Alleged Gilgo Beach serial killer appears in court; judge works to set trial date

Alleged Gilgo Beach serial killer appears in court; judge works to set trial date

0:37
North Babylon HS gives away dresses, suits ahead of prom season

North Babylon HS gives away dresses, suits ahead of prom season

0:22
Central Islip man sentenced to 22 years in prison for raping daughter

Central Islip man sentenced to 22 years in prison for raping daughter

1:45
Long Island pizzerias come together to raise funds for family of slain detective

Long Island pizzerias come together to raise funds for family of slain detective

0:30
Hempstead man pleads guilty, gets 8 months in jail for drug trafficking

Hempstead man pleads guilty, gets 8 months in jail for drug trafficking

0:19
Nassau Legislature approves 2 new outdoor fields for Mitchel Athletic Complex

Nassau Legislature approves 2 new outdoor fields for Mitchel Athletic Complex