CT SB00404

Requires the Insurance Commissioner to adopt regulations establishing affordability as a factor in reviewing individual and group health insurance policy premium rate filings, effective January 1, 2025.

Mandates that affordability evaluations include assessment of total coverage costs including premium rates, coinsurance, copayments, deductibles, and other out-of-pocket expenses.

Requires insurers to include information in rate filings identifying their low, median, and high range for utilization of covered benefits and services, in clear and readily understandable language approved by the commissioner.

Applies affordability requirements to both individual health insurance policies under section 38a-481 and group health insurance policies under section 38a-513.

Exempts Medicare supplement policies from the new affordability standards, which remain subject to existing approval requirements.