Insurance Department Reduces Rate Hikes; Criticism and Calls for Reform Persist
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Attorney General William Tong criticized the rate requests, and questioned the data used.
By Christine Stuart, CTNewsJunkie.com
After numerous hearings and complaints, the Insurance Department knocked down the average rate for individual insurance plans sold in the state from a 12.4% increase to a 9.4% increase. It also cut in half the requested average rate increase for small group plans from 14.8% to 7.4%.
The plans impact 188,000 people in the state.
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