Connecticut Health Insurance Rates Approved with Nearly 17% Hike for 2025

The Connecticut Insurance Department has approved significant health insurance rate increases impacting over 220,000 residents. Individual health insurance plans will see an average premium rise of nearly 17%, while small group policies will face an 11% increase.

These adjustments reflect rising healthcare costs driven by prescription drug prices and increased medical service demand.
Small business owners with fewer than 50 employees will also experience higher insurance costs, with some reporting rises around 15%.

These increases may affect business expenses, employee compensation, and year-end benefits, according to company representatives.
The insurance department moderated the initial higher rate requests from carriers, reducing them from an average of 23% for individual plans and 13% for small group plans. Despite regulatory oversight, stakeholders express concerns about the affordability and economic impact of the premium hikes in Connecticut's insurance market.