Delaware Insurance Commissioner Karen Weldin Stewart confirmed that the state’s only carriers of individual and small group health insurance in the health marketplace are seeking big rate hikes.
Highmark is asking for a 32.5 percent increase in the individual market, while Aetna, Inc. requests 25 percent and Aetna Life 23.9 percent. In the small group market, Highmark seeks a 2.7 percent increase, Aetna, Inc. asks for 23.2 percent , and Aetna Life requests 18.6 percent.
“These large rate increase requests are occurring in many states across the country, and I know they will be a burden for many Delawareans,” said Stewart. “The proposed increases are substantial and I’m going to do my best to reduce them. As is the case with every rate request I receive, I am instructing my actuaries to aggressively examine Highmark’s and Aetna’s supporting data for their requests.”
“I remind consumers that these are proposed rates, not final rates,” added Commissioner Stewart, who also announced that the Insurance Department will conduct public information sessions to receive comment on the proposed increases. The sessions will take place at the following locations in the three counties: