Health insurance companies recently submitted a shocking double digit health insurance rate hike request to the Connecticut Insurance Department (CID) for administrative approval. These proposals averaged more than 20 percent for individual and small business health insurance plans that start in 2023.
These proposed rate increases are staggering and infuriating. We need real legislative action and market solutions. Families and hard-working small businesses are already being crushed by historic inflation, COVID impacted challenges, tax increases, and living in a state they love but is growing more unaffordable by the day. Overall affordability is a crisis in our state and this crushing health insurance rate increase will exponentially add to that.