U.S. Senator Richard Blumenthal has urged Connecticut Insurance Department Commissioner Josh Hershman to significantly reduce or reject proposed double-digit health insurance rate increases that would affect nearly 220,000 Connecticut residents.
In a letter to Hershman, Blumenthal argued that the proposed increases would compound financial pressure already bearing on Connecticut families stretched by housing, grocery, and other household costs. He cited the burden on small businesses as well, noting that employers forced to absorb higher insurance costs are less able to expand operations or hire additional staff. If the rates are approved, Blumenthal warned, some families and businesses may lose coverage altogether, further destabilizing the market and driving costs higher for remaining enrollees.
Blumenthal pointed to the Insurance Department's own track record as grounds for intervention. Last year, the Department used its authority to reject requested increases, saving consumers nearly $125 million. He urged the Department to apply the same scrutiny to current proposals and ensure they are not, in the language of Connecticut law, "excessive, inadequate, or unfairly discriminatory."
"These proposed rate increases are not abstract percentages," Blumenthal wrote. "They have a direct impact on nearly 220,000 Connecticut residents who depend on these plans to pay for critically important, even life-saving health services."
"Millions of Americans across the country are struggling with the rising costs of basic necessities," Blumenthal wrote. "Now more than ever, families cannot afford to also bear the financial burden of higher health insurance premiums."
The letter calls on the Department to keep health insurance affordable for Connecticut families and small businesses by cutting or eliminating the proposed increases.