Connecticut insurance agency reviewing requested rate hikes

Consumer
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HARTFORD, Conn. (AP) – Connecticut’s Department of Insurance is reviewing rate increase requests filed by 14 health insurance companies that range on average from 2.1 percent to 32 percent.

The private plans, offered on and off the state’s health insurance exchange, provide coverage to more than 330,000 state residents.

Public comment on the proposed increases began Monday.

Insurance Commissioner Katherine Wade has called for public hearings in August on three requests for individual plans offered by some of the state’s largest health insurers, Anthem Health Plans, ConnectiCare Insurance Co. and Aetna Insurance Co.

Those hearings will be held in Hartford.

The Department of Insurance says the proposed increases are being driven by several factors, including rising health care costs, such as increases in pharmacy costs and a greater demand for medical services.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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