Take Action to Oppose Health Insurance Rate Increases
Health insurance companies have submitted their annual request to increase rates for individual plans and small businesses.
Requested increases are as high as 23% – from companies that are spending billions of your premium dollars on executive pay, stock buybacks, and profits.
We are urging everyone to write to the insurance department and tell them to take into account profits, executive pay, stock buybacks, and vertical integration and mergers and acquisitions -- and to reject these requests.
CCAG is revealing how 2022 spending by just four health insurance companies on profits, CEO pay and stock buybacks was just short of $400 billion. Visit us on Facebook, Twitter and Instagram for the hair-raising details of how these companies are spending your ratepayer dollars.
The CID's announcement of the request is here.
Click here for more information.
Clearly, government needs to act in a much stronger manner to rein in these corporate profiteers. Stay tuned for details to continue the fight against insurance greed!
Requested increases are as high as 23% – from companies that are spending billions of your premium dollars on executive pay, stock buybacks, and profits.
We are urging everyone to write to the insurance department and tell them to take into account profits, executive pay, stock buybacks, and vertical integration and mergers and acquisitions -- and to reject these requests.
CCAG is revealing how 2022 spending by just four health insurance companies on profits, CEO pay and stock buybacks was just short of $400 billion. Visit us on Facebook, Twitter and Instagram for the hair-raising details of how these companies are spending your ratepayer dollars.
The CID's announcement of the request is here.
Click here for more information.
Clearly, government needs to act in a much stronger manner to rein in these corporate profiteers. Stay tuned for details to continue the fight against insurance greed!
About Connecticut's Five Families
Health insurance companies are making billions by denying you care.
Five of them sent this letter to Governor Lamont in April 2021, threatening to move jobs out of Connecticut if we passed a Public Option. It worked, and the Public Option was scrapped in the final days of the 2021 legislative session.
CCAG is investigating, and bringing you information you need about the greed and profiteering of these companies.
Three initial reports exposed hundreds of millions diverted from health care to CEO pay, lobbying expenses, and profits and stock buybacks.
Our first report, on CEO compensation, showed that those five companies paid their CEOs $137.7 million in the last year. Our second, Games Insurers Play: How Low Will They Go?, explores the tactics and money spent in the 2021 legislative session. It shows that the industry, these Five Families, and dark money groups who don't disclose their donors spent at least $1.3 million lobbying in just six months. Finally, Pandemic Profiteering: Making a Killing on COVID, finds that what these companies reported in profits, and spent on stock buybacks, could have funded the entire state of Connecticut for two years.
CCAG updated these in August of 2022, showing Billions Spent on Stock Buybacks, Profits, and Executive Compensation by Health Insurance Companies Seeking Double Digit Rate Increases.
By adding thousands of small businesses and nonprofits to the state's Partnership Plan, the Public Option proposed in 2021 would have offered affordable, quality coverage to tens of thousands of people. Health insurance companies would still have had work administering the plan -- but it would have impeded the skyrocketing profits of the insurance industry.
It's time our lawmakers listened to the people of Connecticut, rather than millionaire insurance executives.
Make sure to like, follow and share our Five Families Facebook page, share your health care story, and click here to take action and sign up for updates.
Five of them sent this letter to Governor Lamont in April 2021, threatening to move jobs out of Connecticut if we passed a Public Option. It worked, and the Public Option was scrapped in the final days of the 2021 legislative session.
CCAG is investigating, and bringing you information you need about the greed and profiteering of these companies.
Three initial reports exposed hundreds of millions diverted from health care to CEO pay, lobbying expenses, and profits and stock buybacks.
Our first report, on CEO compensation, showed that those five companies paid their CEOs $137.7 million in the last year. Our second, Games Insurers Play: How Low Will They Go?, explores the tactics and money spent in the 2021 legislative session. It shows that the industry, these Five Families, and dark money groups who don't disclose their donors spent at least $1.3 million lobbying in just six months. Finally, Pandemic Profiteering: Making a Killing on COVID, finds that what these companies reported in profits, and spent on stock buybacks, could have funded the entire state of Connecticut for two years.
CCAG updated these in August of 2022, showing Billions Spent on Stock Buybacks, Profits, and Executive Compensation by Health Insurance Companies Seeking Double Digit Rate Increases.
By adding thousands of small businesses and nonprofits to the state's Partnership Plan, the Public Option proposed in 2021 would have offered affordable, quality coverage to tens of thousands of people. Health insurance companies would still have had work administering the plan -- but it would have impeded the skyrocketing profits of the insurance industry.
It's time our lawmakers listened to the people of Connecticut, rather than millionaire insurance executives.
Make sure to like, follow and share our Five Families Facebook page, share your health care story, and click here to take action and sign up for updates.
Connecticut's Five Families
Health insurance companies wanted to raise your rates.
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Ask why CT residents should support obscene stock buybacks, profits and executive pay!
Insurance companies are seeking rate hikes averaging 20%. The CT Insurance Department is holding a hearing Monday, August 15 at 9 am for the public to submit and provide comments. You will be able to ask questions of the carriers and the Insurance Department.
CCAG wants you to have the information you need to speak out at the hearing. See updates above!
Submit testimony here or sign up here: https://bit.ly/CIDLetter
Take CCAG's survey here: https://bit.ly/ShareYourHealthCareStory
Make sure to check out, and like and share, these posts on Facebook, Twitter and Instagram, calling out the outrageous amount of money being spent on executive pay, profits and stock buybacks.
UPDATE: The CT Insurance Department granted rate hikes, which while lower that requested are still too much. Stay in the fight with CCAG - click here to share your health care story!
Insurance companies are seeking rate hikes averaging 20%. The CT Insurance Department is holding a hearing Monday, August 15 at 9 am for the public to submit and provide comments. You will be able to ask questions of the carriers and the Insurance Department.
CCAG wants you to have the information you need to speak out at the hearing. See updates above!
Submit testimony here or sign up here: https://bit.ly/CIDLetter
Take CCAG's survey here: https://bit.ly/ShareYourHealthCareStory
Make sure to check out, and like and share, these posts on Facebook, Twitter and Instagram, calling out the outrageous amount of money being spent on executive pay, profits and stock buybacks.
UPDATE: The CT Insurance Department granted rate hikes, which while lower that requested are still too much. Stay in the fight with CCAG - click here to share your health care story!
Check out CCAG's op-ed in the CT Mirror, "No Way to Run a Healthcare System."
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...Connecticut had the chance last year to pass a public option, which would have allowed small businesses and nonprofits to join the state’s Partnership Plan. The proposal would have provided more transparency, lowered prices for all and eliminated the high-deductible plans that are crippling many businesses, nonprofits and families.
But it would have limited health insurance company profits, and five of them threatened to move jobs out of state if the Public Option passed — a threat almost certainly false, as they admit in their letter, since workers can now work from anywhere, and Connecticut’s workforce possesses the skills they need. The bill was blocked. Read more here. |
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Connecticut Citizen Action Group, 30 Arbor Street Ste 107, Hartford, CT 06106
(860) 233-2181 - action@ccag.net
(860) 233-2181 - action@ccag.net