Cigna to Leave CT’s Individual MarketJuly 6, 2017
It's the latest headline about an insurer leaving Connecticut. The move by Cigna will affect around 600 Connecticut residents.
Cigna is leaving Connecticut’s individual market, NBC Connecticut reported on Thursday:
A company spokesman confirmed that the company notified individual medical plan holders that their off-exchange individual and family medical PPO plans will be discontinued in 2018. The move will not impact current plans through the end of the 2017 plan year, nor will it affect individual and family dental plans.
The company said they have a small customer base for individual plans in the state, and offering them is not sustainable for their business. It will not affect employer-sponsored plans.
Cigna did not sell plans on Access Health CT, Connecticut’s Obamacare exchange. Rather, it covered nearly 600 Connecticut residents through off-exchange individual plans, according to reporting by The CT Mirror last year.
Cigna requested, and received, approval to raise premiums an average of 6.6 percent last year.
The two insurers selling individual plans on Access Health CT in 2018 requested an average rate hike of 25 percent earlier this year. Off-exchange individual plans, like the one offered by Cigna, will be offered by CTCare Inc. and CTCare Insurance Co. in 2018. They are requesting an average rate hike of 26 percent.
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