Hearing Held on Anthem’s Insurance Rate Increase Plan

Friday, Jun 27, 2014  |  Updated 10:21 AM EDT
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Hearing Held on Anthem’s Insurance Rate Increase Plan

NBCConnecticut.com

Athem is proposing insurance rate increases.

A public hearing is underway on Friday on Anthem Blue Cross/Blue Shield’s proposal to raise rates.

In May, Anthem Health Plans, Inc. filed a plan to increase rates on around 66,000 policies by an average of 12.5 percent on individual health plans as of Jan. 1, 2015.

This includes private plans and those on the state's health insurance exchange.

“In filing our rates for 2015, we sought a balance – we know that we operate in an increasingly competitive market place where price drives consumer purchasing decisions. At the same time, as a long-time Connecticut health insurer, watching many other insurers come and go over the years, we know that solvency and stability is important.  We must balance strong competitive pressures against the need to responsibly price our products, so that we remain a leader in the state for the next 75 years,” a statement from the company says.

A team from CONECT, Congregations Organized for a New Connecticut, plans to testify at the hearing.

More on the proposal is posted on the state Department of Insurance Department Web site.
 

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