Bross Chingas Bross Real Estate, Riverside Realty, #1 in 2013
Leslie Clarke Homes, your real estate solution, Westport, CT 203-984-1856Westport Downtown Merchants Association community-wide holiday party, 5:30 December 3, Branson Hall, Christ & Holy Trinity Church, Westport
Molly Lane, Exceptional Properties Specialist: Fairfield County Homes, 917-670-4842
 
Thursday, November 27, 2014
NewsHealth and FitnessBusiness

Wednesday, September 28, 2011

Insurance Department Reduces Anthem’s Rate Hike

Digg Favicon Email Favicon Facebook Favicon LinkedIn Favicon TwitThis Favicon  

By Arielle Levin Becker

www.ctmirror.org

The Connecticut Insurance Department has turned down a request by the state’s largest health insurer to raise premiums by 12.9 percent for more than 25,000 individual-market policies, instead granting the company a 3.9 percent increase.

Anthem Blue Cross and Blue Shield had said that the higher increase was needed to account for rising claims costs, increased use of services by members, and state and federally mandated benefit changes.

WestportNow.com Image

But the insurance department found that a smaller increase was appropriate. Actuary Paul Lombardo wrote that the lower figure was based on reducing the operating margin for the plans and removing “underwriting wear-off” from Anthem’s calculations. Underwriting wear-off refers to the decline in members’ health status since they first bought the policies, making them poorer risks.

The 3.9 percent increase could take effect Jan. 1 for about 25,000 policies covering an estimated 48,000 state residents who buy private insurance on their own rather than through their employer.

Click here for more of story

Posted 09/28 at 07:23 PM 

Comments:     Comment Policy

No comments yet.

You need to Register and be logged in to post comments. If you are already registered but are not logged in, you can Login here.

Name:

Email:

Location:

URL:

Remember my personal information

Notify me of follow-up comments?

You must be logged in to comment. You must also answer the question or solve the equation below:

What is missing: North, South, East, ----? (4 character(s) required)

Please note by clicking on "Submit" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Inappropriate posts may be removed.

<< Back to main