Today, The Denver Post ran a front page article called, “State rejects Cigna’s boost” detailing Colorado’s rate review process. We have been on the front lines of this fight to keep health insurance companies from arbitrary and exorbitant premium rate hikes, and the article mentions our work.
Here is an excerpt from the story:
The Colorado Consumer Health Initiative argues that health insurers must be watched carefully because they frequently seek sharp hikes, even while consumer use of medical resources is down . Meanwhile, insurer profits remain high, they add.
The consumer group has used grant money to hire actuaries to critique three rate filings this fall, including the Cigna hike.
“Twenty thousand Cigna customers would have seen their fourth rate increase in three years. It is wrong that consumers are subject to high and frequent rate increases,” said Dede de Percin, director of the Colorado Consumer Health Initiative.
The Cigna request would have added $11.6 million in premiums to the $48.5 million paid by policyholders already, the group’s adviser said.
You can read the entire story here.