Aetna Seeking Permission To Change Health Premiums — Downward

[dtotire]

A result of the Health Reform Act



Aetna Seeking Permission To Change Health Premiums — Downward


By MATTHEW STURDEVANT, [e-mail] The Hartford Courant
9:37 p.m. EDT, May 11, 2011


After years of increasing prices for health insurance, Aetna is asking state regulators to allow a premium decrease averaging 10 percent for plans used by more than 15,000 Connecticut residents.

It's a complete about-face in the pricing trend of health insurance — and it's not just a one-time fluke.

Aetna's proposed decrease, which would take effect Sept. 1, is a result of the company's seeing a drop in spending on medical services, even as the prices continue to rise for doctor and hospital services. Aetna, like other health insurers, also must comply for the first time this year with rules in federal health care reform that require minimum levels of spending on customers' medical expenses.

If health insurers don't meet the requirements by the end of the year, they will have to pay customers a rebate — but Aetna said it was too soon to know whether that will happen.

It's impossible right now to really predict if there will be rebates, and what they would be, because that will be assessed based on the full-year experience in these plans," said Aetna spokeswoman Susan Millerick.

http://www.courant.com/health/connecticut/hc-aetna-rate-decrease-20110511,0,6277761.story

[Oceansaway]

1. k & r...nt

[MineralMan]

2. Looks like that provision in the Health Care Bill

is working. I'm hoping everyone sees a reduction. As it phases in, piece by piece, we'll see other changes, too.

[Hoyt]

7. Good news. When the Exchanges kick in it will be even better.

Maybe not as good as single payer, or having a public option, but better than the status quo.

[Kber]

3. Similar experience with Oxford in New Jersey for someof their plans

interesting

[canoeist52]

4. Aetna also got a waiver of minimum yearly cap of 750,000.

For one year because it would cause a "significant increase in your premiums". (in my mail today)

That means they can continue to sell substandard insurance with a yearly cap of 10,000.

http://www.benefitsunlimitedinc.com/index.php/archives/597

[cascadiance]

5. Hmm... My COBRA with them just ended last year...

On a different COBRA plan now that is more expensive. Shoot!

[jsamuel]

6. In other words, they are dropping the rates because of the Affordable Care Act.

[raccoon]

8. K&R. nt