CT SB00322

Adds "unaffordable" as a standard the Insurance Commissioner must consider when reviewing and approving individual health insurance premium rates, effective October 1, 2020.

Requires the Commissioner to adopt regulations prescribing standards to ensure individual health insurance rates are not excessive, inadequate, unfairly discriminatory, or unaffordable.

Establishes affordability requirement for group health insurance policies for small employers, requiring premium rates to be submitted to and approved by the Commissioner as affordable.

Requires insurers filing group health insurance premium rates on or after January 1, 2021, to include actuarial memorandums with pricing assumptions, claims experience, and loss ratio data.

Applies affordability standards to all group health insurance policies and certificates delivered or issued for delivery in Connecticut.