Earlier this month, the Connecticut Insurance Legislation passed a bill that would require the state to host a public symposium regarding rate proposals from the state’s health insurers. State residents would be able to attend the gathering and listen to insurer’s outline their plans for rate increases or decreases as well as ask questions regarding these issues. The symposium would have been mandatory before regulators could approve or reject proposals, but Governor Dannel Malloy vetoed the measure as it came to his desk late last week. In a message that…
Read MoreTag: Connecticut health insurance
New insurance mandates in Connecticut incite criticism from the business community
Connecticut lawmakers have introduced a bevy of new health insurance mandates that may drive up the cost of insurance in the state. These sorts of mandates have been popular amongst legislators in recent years. Most of these provisions are confronted with a tide of opposition from the state’s business community who say that increased costs will reach excessive levels and stop employers from providing health benefits. Lawmakers, however, are sure that the benefits of the mandates serve the greater good. Among the mandates in a provision to expand the coverage…
Read MoreHealth insurance rates dropping in light of health care reform
In a strange twist of fate, more health insurance companies are making requests to reduce their premiums. This comes in stark contrast of the trend that has been dominant in previous months where major health insurers sought to increase rates exponentially. Several small companies have been lowering their rates, but big companies are following suit, some seeking permission from insurance regulators to reduce their premiums by as much as 20%. While this move may seem uncharacteristic for the industry, some experts are saying that it is not as altruistic as…
Read MoreHopes of change with New York health insurance exchange in place
In accordance with the Affordable Care Act passed last year, the state of New York is seeking to create a new agency that will run a federally mandated health insurance exchange. The state has long sought to find a means of providing coverage to some 2.5 million of its uninsured residents. Despite years of effort, officials have never been able to bring that number down. Many New Yorkers are hoping that the coming exchange will alleviate some of the difficulty in obtaining comprehensive coverage at a reasonable price, but still…
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