ConnectiCare Benefits Inc. submitted its proposed rates for individual and small-group health plans that will be sold starting in October on the state’s public health exchange, Access Health CT, for coverage next year.
ConnectiCare said the federal and state regulatory environment since the Affordable Care Act passed has been “unclear, confusing and fluid” with thousands of pages of regulations.
“Many of these regulations are complex, vague, incomplete and even contradictory,” Neil S. Kelsey, vice president of ConnectiCare’s Actuarial Services, wrote in a May 17 letter included in the filing. “In a number of areas, regulations have not even been provided.”
Given the uncertainties, ConnectiCare reserves the right to withdraw or change its filings if a change in regulations pose a potential adverse risk to the company, Kelsey wrote.
ConnectiCare is proposing a base rate of $397 per month for individual plans, which doesn’t take into account adjustments for age and geographic area. Individual plans could be more expensive in Fairfield, New Haven, New London, Tolland and Windham counties. Rates could be lower in Hartford, Litchfield and Middlesex counties.
The proposed premium for small-group plans would be offered at a base rate of $716 per month, though it could be more expensive in Fairfield and Middlesex counties and less expensive in Hartford, Litchfield, New Haven New London, Tolland and Windham counties, according to the filing.
ConnectiCare offers individual and group plans on its own private exchange and through the Connecticut Business & Industry Association.
“ConnectiCare remains committed to Connecticut and the successful implementation of health care reform, which includes the state exchange,” Michael Wise, president of ConnectiCare Health Plans, said in a prepared statement.
ConnectiCare is only the second insurer to submit proposed rates to state regulators. Earlier this month, HealthyCT Inc., the newly formed Consumer Operated and Oriented Plan established by the Affordable Care Act, requested monthly rates averaging $445.63 for small-groups and $427 for individuals.
The state’s public exchange, Access Health CT, is slated to be an online marketplace available to consumers on Oct. 1.