Attorney General William Tong today released the following statement regarding double-digit increases approved today by the Connecticut Insurance Department for seven health insurers for plans available on the individual and small group market, both on and off the state-sponsored exchange.
“These double-digit increases reflect a badly broken system that we cannot afford to ignore. The insurers, the hospitals, the pharmacy benefit managers have zero incentive right now to negotiate lower costs for Connecticut families. Too many families are drowning in these ballooning premiums, deductibles, coinsurances and copays. By the time these rate demands hit the Insurance Department for review, it’s too late. It’s an utterly unworkable system and it has to change,” said Attorney General Tong.