Health Exchange Price Options Announced

On August 5, 2013, the Connecticut Insurance Department approved base rates for the health insurance plans to be offered through the state’s health insurance exchange, known as Access Health CT.  The Hartford Courant reports that the rates individuals will be charged are more varied than these base rates.  To calculate an actual rate, a person must modify the base rate for his or her age and location (i.e., county).  The rates also depend on the carrier and “metal tier” plan selected.  Plans will be offered at bronze, silver, and gold levels with each metal tier corresponding to the amount of coverage provided.  For example, bronze plans will be the least expensive plans because they provide the least amount of coverage at 60%; silver covers 70%, and gold covers 80%.

The base rates, age and county modifiers, and some examples of rate calculations are shown below: