Insurance Department Approves Reduced Health Insurance Rate Hikes For 2025
This is the list of reduced rate hikes for on-exchange health insurance plans from four insurers in the Connecticut health insurance market. Credit: Public information, CT Insurance Department (Courtesy of CTNewsJunkie)
Attorney General William Tong said that “year-after-year increases remain simply unaffordable and unsustainable.”
By Jamil Ragland, CTNewsJunkie.com
The Connecticut Insurance Department (CID) approved a reduced rate hike for individual and group plans for 2025 on Friday, despite bipartisan pleas to reign in healthcare costs for residents burdened by a range of cost increases in their lives.
“Our priority is always the consumer. Our team of actuaries and professionals has carefully reviewed and appropriately reduced the requested health insurance rate increases for 2025,” said Andrew M. Mais, CID commissioner in a statement. “While we’ve made progress in mitigating these increases, the challenge remains in addressing the root causes driving healthcare costs upward. Our objective is clear: to ensure that Connecticut consumers have access to a competitive health insurance market while managing costs effectively. The rates announced today reflect our commitment to protecting consumers from unsupported increases and ensuring that health insurance remains both fair and accessible in Connecticut.”
Click here to read the rest of the article on CTNewsJunkie.com.
Like what you see here? Click here to subscribe to We-Ha’s newsletter so you’ll always be in the know about what’s happening in West Hartford! Click the blue button below to become a supporter of We-Ha.com and our efforts to continue producing quality journalism.
