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August 20, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Anthem, ConnectiCare staying on health exchange

Health insurance rates on Connecticut’s health insurance exchange are going up – but at least providers Anthem and ConnectiCare have committed to remain on Access Health CT for 2018.

The news comes just one day after Connecticut Insurance Department Commissioner Katharine L. Wade rejected their proposed revised premium rate increases.

The Insurance Department said it had approved an average 31.7 percent rate increase on the policies Anthem offers individuals next year, both on and off Access Health CT. Anthem had sought a 33.8 percent increase. It also approved an average rate increase of 25.4 percent for Anthem small-group policies bought by Connecticut businesses and nonprofits.

An average 27.7 percent increase for ConnectiCare individual policies sold on the exchange was approved for 2018. Most ConnectiCare policies sold to individuals off the exchange have an approved rate hike of 27.8 percent.

The increases will vary upon an individual’s specific plan.

“The Connecticut Insurance Department understood the need to make a final decision on rates to allow open enrollment to begin on time,” Wade said. “We have done that, giving carriers the final piece of information they needed to make a decision about continued participation. This gives our consumers and the exchange much needed certainty going into next year.”

“With President Trump and Republicans in Congress attempting to sabotage the American health care system, we are incredibly pleased that Anthem and ConnectiCare will be offering health insurance plans in 2018 through Access Health CT,” said Gov. Dannel Malloy.

“This is good news for Connecticut consumers and our health insurance marketplace,” said Lt. Governor Nancy Wyman, who serves as chair of the board for AHCT.  “Access Health CT and exchanges like it throughout the U.S. provide a lifeline for millions who would otherwise not be able to afford health insurance. We must continue work on the reforms to drive down health care costs and make coverage more accessible.”

Open enrollment though Access Heath CT begins on Nov. 1. According to the exchange, approximately 100,000 Connecticut residents purchase their coverage through AHCT.