HARTFORD, Conn. (CBS Connecticut) – The Department of Insurance is scheduled to hold three hearings this week on the request by providers for double-digit rate increases. Anthem has reportedly requested an average 26.8 percent rate increase for individual plans offered on and off the state’s health insurance exchange, Access Health CT.
Many residents, as well as business owners, are alarmed by the potential increase, including Doug Wade, owner of Wade’s Dairy Inc in Bridgeport. “Come January, I can’t absorb another rate increase like this,” he stated. “And I know my employees– even those who can afford and deem it necessary to have insurance– they can’t use it, other than going for an annual physical, because… the deductible plans are totally un-affordable.”
The State Insurance Department must decide whether to grant the requested increases, modify them, or outright reject them. Anthem’s plans cover 56,700 residents in the state.