Insurers propose rate hikes for plans on the individual market

Jun 10 2014

News reports detail the latest on insurers' efforts in Maryland and Connecticut to gain approval for increases in 2015 premiums on the state exchanges.

The Washington Post: CareFirst Seeks Price Hikes For Individual Health Plans
Maryland's dominant insurance company, CareFirst, is proposing hefty premium increases of 23 to 30 percent for consumers buying individual plans next year under the federal health-care law, according to filings released Friday. The rate proposals by CareFirst and several other carriers were posted on the Web site of the Maryland Insurance Administration and paint a mixed picture. Two other insurers, Kaiser Foundation Health Plan and Evergreen Health Cooperative, are proposing to lower rates for next year, by 12 percent and about 10 percent, respectively (Sun, 6/7).

Politico Pro: Maryland Proposed Rates Reflect Market Volatility
Five Maryland health insurers are considering dramatic changes in their rates next year, reflecting volatility that is likely to greet the second year of Obamacare coverage nationwide. CareFirst BlueChoice and CareFirst of Maryland want to raise rates by 22.8 percent and 30.2 percent, respectively. But two insurers want to make big cuts. Kaiser Foundation Health Plan is pitching a 12.1 percent cut, and Evergreen Health Cooperative wants a 10.3 percent cut (Haberkorn, 6/6).

The CT Mirror: Healthcare Advocate Wants Hearing On Anthem Rate Request
State Healthcare Advocate Victoria Veltri has asked the Connecticut Insurance Department to hold a public hearing on Anthem Blue Cross and Blue Shield's proposal to raise premiums for its individual-market health plans by an average of 12.5 percent next year. Veltri also urged Insurance Commissioner Thomas B. Leonardi to consider holding public hearings on all rate proposals filed by insurers offering coverage through the state's health insurance exchange. ConnectiCare Benefits requested an 11.8 percent increase in its base rates and HealthyCT proposed decreasing its premiums by an average of 8.9 percent. UnitedHealthcare also proposed rates for plans that would be sold on the exchange's individual market for the first time in 2015 (Becker, 6/6).