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Nonprofit Insurer Lowers Rate Proposal For Insurance Exchange

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Credit: Thinkstock

Credit: Thinkstock

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HARTFORD, Conn. (AP) _ A new, nonprofit insurer participating in Connecticut’s health insurance exchange has decided to drop its rates.

A new filing with the Department of Insurance shows HealthyCT, formed by the Connecticut State Medical Society and a statewide independent practice association of physicians, dropped its proposed premiums for individuals by 36 percent. The average rate dropped from $427 per month to $271.

For small group plans, they dropped from an average of $446 to $408.

The Department of Insurance has until July 31 to act on eight plans submitted for the Access Health CT insurance exchange– four individual plans and four small group plans. Open enrollment begins Oct. 1.

Exchange CEO Kevin Counihan on Friday credited competition in the marketplace for persuading HealthyCT to lower its rates.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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