(HARTFORD, CONN. WTIC.)-State regulators heard from the public, elected officials and the insurance companies themselves on proposed health insurance rate increases for next year. The increases average eight percent for individual plans and nearly thirteen percent for small group plans.
The public generally believes the increases are outrageous. One person described the premium increases as predatory and extortion.
The insurance companies say they're facing medical costs, design changes, overall morbidity, changes in taxes and fees and covid and risk adjustments.
Connecticut's insurance department will make a decision on the proposed premium increases in September.
