Connecticut: Marketplace Insurers File Proposed Rate Increases
Carriers selling insurance on and off of Connecticut's State-based Marketplace, Access Health CT, submitted rate increases to the Connecticut Insurance Department last week ranging from 2% to 14%. The lowest rate increase was submitted by ConnectiCare Benefits Inc., which has the highest number of Access Health CT enrollees and anticipates a slightly younger population of enrollees in 2016. The highest rate increase came from HealthyCT, which lowered its rates between 2014 and 2015. Generally, carriers’ rates suggest that they expect the needs of the newly insured for 2016 to stabilize now that the marketplace has been operational for a year despite anticipated cost increases, according to the Hartford Courant. The Insurance Department will now analyze the proposed rate increases and accept public comment on them before determining whether they will be approved for the 2016 plan year.
Massachusetts: Governor Requests Maintenance of Small Group Definitions and Rating Factors for SHOP
Governor Charlie Baker (R) requested from CMS an extension of the State’s current definition of a “small group employer” as a business with 50 or fewer employees until the State is authorized to apply for a 1332 waiver in 2017. According to the governor’s letter, Massachusetts will seek a Section 1332 waiver that defines the small group market as 1-50 employees. Additionally, the governor requested an indefinite extension to its current transition period to allow the continued use of the State’s small group rating factors to lend stability to the Marketplace premiums.