Rate hearings on Anthem, ConnectiCare and Golden Rule

Insurance Commissioner Katharine L. Wade announced she has ordered public hearings on health insurance rate filings for Anthem Health Plans, Inc., ConnectiCare Insurance Company and Golden Rule Insurance Company. In Connecticut, health insurers must gain regulatory approval before rates can be implemented.

The hearings will be held July 27 at the Insurance Department on 153 Market Street, Hartford, in the 7th floor conference room, beginning at 9 a.m. In calling for the hearings, the Commissioner is exercising her discretionary authority under state law. The Commissioner and state Healthcare Advocate Vicki Veltri have also worked closely to determine what rate filings would undergo the hearings.

“These proposed rates will affect more than 70,000 Connecticut policyholders in the 2016 coverage year. I believe it is very important that consumers better understand the regulatory review process and the factors that drive health care costs that ultimately have an effect on their household budgets,” Commissioner Wade said. “The Department’s actuarial review is rigorous and seeks to ensure that rates are adequate for the benefits offered and protects consumers’ interests.”

“As increasing numbers of people obtain health insurance under the Affordable Care Act – many for the first time – it is essential that the public have greater opportunities to weigh in,” Healthcare Advocate Vicki Veltri said. “I welcome these hearings which will provide a full public disclosure of the facts and factors behind why insurers feel they to need raise rates.”

Hearings will be held on the following rate filings:

Anthem Health Plans, Inc.: 4.7% rate increase, 34,553 policyholders

ConnectiCare Insurance Company: 9.8% rate increase, 34,000 policyholders

Golden Rule Insurance Company: 18.5% rate increase, 2,000 policyholders

Please see the official Notice of Public Hearing for details on participation.

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