Insurance prices on CT exchange could rise

There have been reports saying insurance premiums will rise next year, and others that claim costs will drop. Nevertheless, two insurers with health insurance benefits plans on the Connecticut exchange have already suggested in recent proposals to the Connecticut Insurance Department that rates rise during the next open enrollment period.

According to the CT Mirror, the insurers want rates to increase by more than 10 percent, with one saying premiums could rise by up to 17.38 percent. The news source suggested the proposals aren't the final say, as the state insurance department still needs to review the documents and sign off on them. In addition, these increases may not necessarily translate into higher insurance benefits costs for residents because many people may receive federal subsidies and assistance to afford their plans.

The CT Mirror previously reported the state's insurance exchange, Access Health CT, has already started working with insurers to determine next period's offerings, and prices are a key factor that remains undecided. What has been determined is that insurers must be stricter requirements to have their plans on the exchanges. For Connecticut residents, this could mean plans with wider provider networks.