The state Insurance Department has made decisions on the health insurance rate filings for the 2019 coverage year and said the average increase for individual plans is 2.72 percent, down from average request of about 12 percent.
A statement from Insurance Department says the average increase for small group plans is 3.14 percent, down from the requested average of just over 10 percent.
“Medical trend - the cost of medical services and the demand for those services - continues to be the main cost driver and we need to work with all stakeholders to reduce the cost of health care, which drives increases in health insurance premiums,” Commissioner Katharine L. Wade said in a statement. “For the first time there will be more choice of innovative networks and plan cost sharing options for consumers on the exchange. The Department has worked closely with the Access Health CT Board and the exchange carriers to ensure a variety of meaningful options. Providing greater choice to consumers is important so they can choose a plan that best meet their individual and family needs.”
The commissioner said carriers also accounted for the cost of new state mandates and added pregnancy as a qualifying event to enroll in health insurance in the individual market.
Factors contributing to the final rate decisions included a limited impact from lack of enforcement of the Affordable Care Act’s individual mandate. They said the department determined there would be a marginal impact from the federal government’s new regulations for short-term, limited-duration health plans and association health plans.
