Anthem Will Not Appeal Rate Hike Rejection

Health insurer Anthem has announced that it will not appeal Connecticut’s rejection of its rate request late last year. WNPR’s Harriet Jones reports.

Anthem had asked to raise rates on renewing policies in the individual market by as much as 20%, citing rising medical costs. That would have affected about 48,000 people in the state. But Connecticut’s insurance department rejected the rate case, after a contentious public hearing, deeming the request excessive.

Now Anthem says it has decided not to appeal that decision, but it will file a new rate case, asking for a raise to go into effect April 1st. Anthem has not released details of its request, but says it is concerned about the growth of costs in Connecticut, and it believes premiums must be sustainable to ensure a stable marketplace.

The insurer says it is committed to do everything possible to moderate the impact of rate increases on its members. The previous rejection was issued under acting Insurance Commissioner Barbara Spear – it’s not clear who will rule on this latest rate case as Governor-elect Dan Malloy has yet to name a new insurance commissioner.

For WNPR, I'm Harriet Jones.