December 1, 2023

Health Insurance

Follow Your Health Insurance

Should affordability affect insurance rate hikes in CT? Some say yes

In the middle of a public hearing last summer, after several insurance companies had proposed double-digit rate increases on their health care plans, Attorney General William Tong posed a series of questions that summed up the concerns of many who gathered at the state’s Legislative Office Building that day.

“My understanding is that an actuarial analysis is undertaken to make sure an insurance company has enough assets to pay liabilities, right? That’s what the analysis shows: ‘Do you have enough money to pay claims?’” he asked.