Sen. Cabrera Requests Insurance Regulators Deny Rate Hikes

Press release from CGA:

Aug. 18, 2022

State Senator Jorge Cabrera (D-Hamden) released the following statement critical of proposed insurance rate hikes. The senator is requesting the increases be denied by insurance regulators.

"These proposed insurance rate hikes, of over 20% for folks who buy insurance off the Affordable Care Act Exchange, will price people out of life-saving care," said Sen. Cabrera. "The greed displayed here is objectionable and will have a serious, detrimental impact on people in our state. Insurance must be made more affordable and I will continue to work with my colleagues in the General Assembly to find ways to bring the cost of healthcare down. With the overall cost of living at a historic high level, now is not the time to increase health coverage costs. People need a break and this rate increase proposal is unacceptable. We must do better. These proposed hikes fly in the face of what is in the best interest of Connecticut residents and the public's health. I urge regulators to deny these hikes."

The state's Department of Insurance held a health insurance rate request informational hearing Monday. The potential rate increase of 20.4% on next year’s individual health plans would impact people who buy insurance from companies that sell policies on and off the state's Affordable Care Act exchange. Additionally, proposed rate hikes included a recommended increase of 14.8% on small group health plans. Currently, Anthem Health Plans, CTCare Benefits Inc., and ConnectiCare Insurance Company Inc. sell insurance policies on the exchange.

This press release was produced by CGA. The views expressed here are the author's own.