Tennessee: The other shoe drops: Cigna/Humana ramp up rate hike requests even more
2018 MIDTERM ELECTION
Time: D H M S
I noted a few days ago that the Tennessee Dept. of Insurance is allowing 2 major carriers, Cigna and Humana, to re-submit filings for the 2017 individual market.
I noted at the time,
Cigna and Humana would have to revise their requests up to 50% apiece in order for the statewide average to end up hitting the 60% threshold, but that's not exactly a vote of confidence when it's already in the 56% range to begin with.
Well, neither one quite hit the 50% mark, but they both came close:
In its latest filing, Cigna is proposing an average 46 percent increase — double its first 23 percent increase request.
Humana, which requested a 29 percent average increase in June, is requesting an average 44.3 percent increase, according to a filing with the state regulators.
Here's what that looks like on the weighted average table:
Ugh. Not much else to say here.