ATTORNEY GENERAL TONG, HEALTHCARE ADVOCATE URGE “HIGHEST LEVEL OF SCRUTINY” FOR INSURANCE RATE HIKE REQUESTS
#Hartford, CT – In joint comments submitted today to the Connecticut Insurance Department, Attorney General William Tong and Healthcare Advocate Ted Doolittle sought the “highest level of scrutiny” for rate hike requests sought by health insurers. Eleven insurers are seeking significant rate increases for a range of individual and small group plans, including those for small businesses. The largest increases are focused on plans typically purchased by small businesses with up to 50 employees. The average increase sought for individual plans is 8.6 percent and 12.9 percent for small group plans. Attorney General Tong and Healthcare Advocate Doolittle note that healthcare spending dropped as a consequence of the pandemic. As a result, insurers reaped windfall profits. Now, they are seeking…
