Connecticut’s health insurance companies requested, and received, a premium rate increase averaging 23% this past week. The vast majority of the premium increases are due to mandates included in ObamaCare. One company requested a 22.9% rate increase to cover the mandate eliminating the lifetime maximum on policies.
Sadly, the majority of those affected by these premium increases will be individuals and families, Here, not large corporations.
These rate increases represent mandated benefits starting October 1st of this year. In October and November most health insurance companies will submit requests to raise premiums again to cover the new mandates starting in 2011. Of course there are many other mandates starting within the next couple of years, with rate increases kicking in at the same time.
Michael Higgins
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