Regulators Deny Anthem Rate Hike Request

Connecticut insurance regulators have denied a rate hike request by Anthem Blue Cross Blue Shield. The interim insurance commissioner dubbed the 20% increase “excessive.” WNPR’s Harriet Jones reports.

This ruling comes after a high-profile public hearing two weeks ago, at which protestors denounced Anthem’s plans to raise rates on renewing customers in the individual market. The increase would have affected about 48,000 people in the state. Hearing officer Mark Franklin rendered a 22 page report, recommending that acting commissioner Barbara Spear deny the premium hikes. This denial follows a very controversial approval given to Anthem by the previous insurance commissioner, Thomas Sullivan, who allowed a rate hike of more than 40% on new plans being offered in the state.

Anthem hasn’t yet commented on today’s decision. It comes as the Kaiser Family Foundation releases a report examining Connecticut’s approval process. The study says the department’s health insurance review is understaffed, but says the state has much stronger regulatory powers than many other states around the nation.

For WNPR, I'm Harriet Jones.