CT SB00356

Adds "unaffordable" as a standard for the Insurance Commissioner to evaluate when reviewing individual health insurance premium rate filings, alongside existing standards of excessive, inadequate, and unfairly discriminatory rates.

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

Requires small employer group health insurance premium rates to be approved by the Commissioner and deemed "affordable" before delivery or issuance in Connecticut.

Requires small employer group health insurance premium rate filings to include actuarial memorandums with pricing assumptions, claims experience, premium rates, and loss ratios from policy inception.

Becomes effective October 1, 2022, amending sections 38a-481(b) and 38a-513(a) of Connecticut General Statutes.