Press Releases - July 20, 2018

 Contact: Donna Tommelleo, 860-297-3958
Statement from Insurance Commissioner Katharine L. Wade
On Health Insurance Rate Filings for 2019

“The Connecticut Insurance Department has received 14 rate filings from 10 health insurers for plans that will be marketed in the individual and small group market, both on and off the state-sponsored exchange, Access Health CT. On average, the proposed increases are lower than last year, but rising medical costs continue to be the key drivers of health insurance premium rate increase requests.

“Of concern, however, is the ongoing uncertainty in Washington that threatens to destabilize the health insurance markets, particularly for individuals. The Department is pressing for clarity and guidance from the federal government so that we can finalize the rates for 2019.”

About the Connecticut Insurance Department: The mission of the Connecticut Insurance Department is to protect consumers through regulation of the industry, outreach, education and advocacy. The Department recovers an average of $4 million yearly on behalf of consumers and regulates the industry by ensuring carriers adhere to state insurance laws and regulations and are financially solvent to pay claims. The Department’s annual budget is funded through assessments from the insurance industry. Each year, the Department returns an average of $100 million a year to the state General Fund in license fees, premium taxes, fines and other revenue sources to support various state programs, including childhood immunization.
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