Officials in three states are pushing back on payers looking to raise members' premiums in 2024.
Many states are in the midst of reviewing payers' rate proposals for next year, and some have more strict review processes than others, according to a July 21 analysis from the National Conference of State Legislatures.
Rhode Island
On Aug. 8, Rhode Island Attorney General Peter Neronha filed objections with the state's health insurance department over rate hike proposals from six payers: UnitedHealthcare, Cigna, Aetna, BCBS of Rhode Island, Harvard Pilgrim and Neighborhood Health. He is recommending that the health insurance commissioner "reject any and all rate increases for the six carriers given the increasingly difficult financial situation for Rhode Islanders."
In total, the requests would affect more than 166,000 residents enrolled in individual, and large and small group plans.
Vermont
On Aug. 4, Vermont regulators rejected rate increase proposals from BCBS Vermont and MVP Health for their individual and small group exchange plans, which provided coverage to 72,000 residents last year.
BCBS requested a 15.4 percent increase in the small group market and was approved for 11.7 percent. MVP requested a 23.4 percent increase and was approved for 18.3 percent. In the individual and family market, BCBS requested a 14.9 percent increase and MVP requested 24.4 percent. The plans were approved for 11.4 percent and 19.3 percent increases, respectively.
Connecticut
Connecticut Attorney General William Tong sent a letter to the state's insurance commissioner Aug. 15 asking him to reject double-digit rate increases sought by Anthem (Elevance), Cigna and ConnectiCare. Individual rate requests ranged from 9.8 percent to 17.5 percent, while small group rate requests ranged from 7.5 percent to 23 percent.
Mr. Tong said that the three insurers submitted rate requests based on trends "well in excess of nationally-supported data" and added that his office is exploring potential legislative reforms that would impose heightened scrutiny to how insurers propose new rates.