Requests this year by carriers in the individual market were reduced by the Insurance Department to an average increase of 12.9% from 20.4%. In the small group market, premium increases were pared to an average 7.9% from 14.8% sought by insurers.
CT s top insurance regulator sees shared sacrifice by limiting health insurers profit as consumer rates rise [Hartford Courant] – InsuranceNewsNet insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.
The Connecticut Insurance Department said Friday it reduced 2023 health insurance rate increase requests, but authorized prices that are still higher by double digits for more than 120,000 plan member.
While the average increase approved by the state is lower than the rate requested by the insurance companies, it still represents a significant increase in costs to consumers in the coming year.
Connecticut regulators scale back health insurers 2023 rate hike requests Most increases still in double digits [Hartford Courant] – InsuranceNewsNet insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.