Rhode Island Insurance Commissioner Patrick Tigue said he is concerned over state health insurers' requests for premium rate increases of up to 17.5 percent beginning 2022, according to The Boston Globe.
"Recently, health insurers have generated substantial profits as a result of the reduction in services experienced during the coronavirus disease 2019 public health emergency," Mr. Tigue said. "My office will scrutinize the requested increases and critically evaluate the necessity of significant increases, given the overall financial health of the insurers."
UnitedHealthcare requested the largest increase of 17.5 percent. The company defended the requested increase, saying it reflects the cost and utilization of care.
"Our goal in pricing is to match expected medical cost increases with premiums, while helping patients and employers access the most appropriate quality care while holding down costs," UnitedHealthcare spokesperson Maria Gordon Shydlo told the Globe.
The decision to approve, modify or reject the rate increases will be announced in August, the article said.