HARTFORD, Conn. (WTNH) — As inflation hovers around a 40-year high, insurance rates are not exempt.
The State Insurance Commissioner is reporting that medical costs are up 8 to 10%, with prescriptions 10 to 12%. This means the rates for the State Healthcare Exchange are going up.
“It is a lot, we just bought our house, and that was a challenge because of the market, and everything‘s going up, gas, food, it’s just crazy!” exclaimed Deanisha Lawrence of Glastonbury.
For individuals, the insurance companies asked for 20.4% and got 12.9%. In the small market group, insurance companies asked for 14.8% and got a 7.9%.
“They can ask whatever they want, but now we’re going to sit down and do the hard negotiations and see what they deserve,” Governor Ned Lamont (D-Conn.) said.
Republican governor candidate Bob Stefanowski released a statement noting that “affordable healthcare is a necessity for every resident and family and Connecticut deserves a governor who will fight to make rates reasonable.”
“We are going to see potentially double digit increases, these are the average increases, there some increases that are even higher, some highest 20%, which is really punishing for people,” Attorney General William Tong (D-Conn.) said.
So what about small businesses and the people working behind the counter at this restaurant? It is very difficult with inflation going up and up and up, you don’t have to ask or look too far to find people who say they are struggling to figure out what they have to cut, and health insurance they can’t cut.”
“Insurance is actually very important because my health is everything to me,” Hadi Alnas of Pizza Pie told News 8.
Pizza pie is a new restaurant that just opened up in Glastonbury. Coming out of the pandemic and with inflation, uncertain times have people taking a hard look at their budgets.
“What do I not need, what do I actually need, what do I want,” Alnas said. “So I try to separate things here and there.”
There are about 206,000 people registered on the State Exchange plan.