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The face of health insurance in Connecticut has drastically changed over the years, much like everywhere else in the United States.However, because the state has undergone Medicaid expansion, while also performing really well in health rankings, its rate increases aren’t as bad compared with many other states.

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2010 to 2015 decrease in uninsured rating

A big factor that determines premiums is a certain location’s percentage of uninsured individuals.

In a recent report from the U.S. Department of Health & Human Services, CT, with an estimated population of 3,590,886 (2015, latest data1), had a 3.1% decrease in its uninsured rating from 2010 to 2015. This represents an increase of 110,000 in the insured population. Back in 2010, 9.1% of the population went without insurance.

Health rating and ranking

Premiums are also determined by the overall health status of a specific area. Generally, the healthier the lives of its residents are, the better the premiums they can enjoy.

Thankfully, The Commonwealth Fund has ranked the state 5th in its 2015 Scorecard on State Health System Performance. It received the highest grade (ranking of 2nd) for the “Healthy Lives” dimension and indicator.

Here are the findings of the study for some of this category’s components:

  • Mortality amenable to healthcare: 61 out of 100,000 people

  • Breast cancer fatalities: 18.7 out of 100,000 women

  • Colorectal cancer fatalities: 11.9 out of 100,000 individuals

  • Percentage of adult smokers: 14%

  • Adult obesity: 26%

  • Obesity in children aged 10-17: 30%

In terms of insured individuals, here are some of the study’s key takeaways:

  • 9% of adults (19 to 64 years old) don’t have insurance, compared with the national average of 15%

  • 4% of children (infants to 18 years old) are uninsured, as opposed to the countrywide average of 6%

  • 11% of the adult population chose not to obtain insurance due to the high costs associated with it

  • 13% of adults had expensive out-of-pocket medical bills

Coverages to choose from and what the insurer covers

You can choose one of the four different coverages – collectively called metal tiers – available in Connecticut. As a health insurance plan owner, you would have to pay a portion of the medical and hospital bills you may incur. What you can expect your insurer to cover though is as follows:

Bronze – 60%

Silver – 70%

Gold – 80%

Platinum – 90%

Bronze
Silver
Gold
Platinum

Knowing how much you can expect to pay towards your coverage is extremely important, as this will help you gauge which of the four metal plans is best for you and your budget. Note that individual plan rates in the state went up by 24.8%, on average. This is .02% lower than the 25% national median.

To help consumers, the United States Department of Health & Human Services charted out the following projected averages for this year in the Constitution State:

  • Second-lowest silver before advance premium tax credit (for a 27-year old with a $25,000 household income): $340

  • Second-lowest silver before advance premium tax credit (for a 27-year old with a $25,000 household income): $142

  • Second-lowest silver before advance premium tax credit (for a family of four with a $60,000 household income): $1,231

  • Second-lowest silver before advance premium tax credit (for a family of four with a $60,000 household income): $405

Can you go without insurance in CT?

As long as you meet the criteria for exemption, such as those listed below, yes.

  • The lowest-priced coverage you can find is still more than 8.13% of your household income

  • You can prove you are in a financial hardship

  • You qualify for the short gap exemption

A final reminder

While you’re looking to cut down on costs, you shouldn’t include health insurance in it. Consider this: medical bankruptcy is still a huge concern, what with the continuously increasing costs of medical and hospital services.

References:

https://aspe.hhs.gov/compilation-state-data-affordable-care-act

http://datacenter.commonwealthfund.org/scorecard/state/8/connecticut/

https://aspe.hhs.gov/sites/default/files/pdf/212721/2017MarketplaceLandscapeBrief.pdf

https://www.healthcare.gov/health-coverage-exemptions/forms-how-to-apply/

1Latest data: The U.S. census is conducted every 10 years as per requirement of the United States Constitution. The 23rd edition and the latest data is the 2010 United States Census. Source: https://en.wikipedia.org/wiki/2010_United_States_Census
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