Department of Insurance provides Health Rate Submission Fact Sheet – InsuranceNewsNet

HARTFORD — In response to questions from reporters and the public on the annual health care rate review process, Connecticut Department of Insurance provides the following information:

The Federal Government sets the annual health rate deadline, therefore Connecticut Department of Insurance (CID) cannot delay their actuarial rate review and process.

The timing and deadlines associated with submissions and the annual health rate review are not under the exclusive control of the CID, but rather are within the purview of the federal government through the Centers for Medicare & Medicaid Services (CMS) and Center for Consumer Information and Insurance Supervision (CCIIO), part of Department of Health and Human Services (DHHS). CMS/CCIIO provides national leadership in setting and enforcing health insurance standards that promote fair and reasonable practices to ensure that affordable, quality health coverage is available to all Americans.

On and Off Exchange health plans are annual plans that are evaluated and expire on an annual basis, mostly during a calendar year, but some Small group annual plans are not maintained for the calendar year. Connecticut’s On Exchange health plan marketplace is Access Health CT (AHCT).

The annual submission, review and fee determination process takes place from January to January.

January — CID publishes a bulletin in January of each year with instructions to carriers on their rate filings in effect for the following calendar year. See Bulletin HC-81-22 Guidelines for Filing Health Insurance Fees.

Spring — During the spring months, carriers collect data from previous years’ experience to use in their filings for the upcoming plan year.

July — In early July, carriers submit their health status files with CID for the following year. As such, the CID Life & Health (L&H) unit and L&H actuaries review the files during the summer months and correspond with carriers regarding any questions they have about the files. All files and correspondence are publicly available and posted on the CID website.

August — CID holds a public information meeting with carriers about the files. The public is invited to attend and submit any comments and testimonials.

After the public meeting, CID continues its actuarial review.

September – The Commissioner makes a final decision on fee deposits, approving, modifying or rejecting fee requests.

Scheduled fees must be submitted to CMS and AHCT no later than mid-September.

Fees are then posted by CMS and Access Health CT no later than November 1start of open enrollment.

November — AHCT plans to post rates and plans on its website at least two weeks before open enrollment begins November 1. This schedule provides consumers with sufficient time to review plan options and make a more informed decision about which plan best suits their needs.

December – Before the end of open registration on December 15consumers make their own decision in order to have a health care plan in place by e January 1 the effective date of the following calendar year.

January – The new plan goes into effect for the calendar year.

Any interruption or delay in this process or timeline puts at risk whether plans will be submitted and made available within the deadlines set by CMS, which could result in certain plans not being available for the next calendar year. , reducing consumer options, or alternatively resulting in consumers not having coverage for the following year.

The filings and annual health care rate review process are different from most other state rate setting procedures. CONNECTICUT. These health plans are issued on an annual basis, and the carrier registrations and actuarial review process of Department of Insurance must fit within an annual timeframe and deadlines set by CMS. As such, any analogy to rate reviews of other insurance plans and rate reviews of other state agencies is unreasonable.

To see the registered healthcare rate 2023, request information meeting from August 15 online, visit CT-N here: ct-n.com/ondemand.asp?ID=19945.

The department continues to seek public comment on the health insurance rate proposals submitted by CIGNA Health and Life, CTCare Inc, CTCare Benefits Incand ConnectiCare Insurance Company, Inc Aetna, Anthem Health PlansAND United Health/Oxford for 2023 plans both in and out of Access Health CT, the state’s federal Affordable Care Act exchange.

The department expects to announce the 2023 health care insurance rates in early September.

Health insurance fee requests are available for viewing and open for public comment on the Department’s website at portal.ct.gov/cid