Aetna rate hikes faced little regulatory oversight

Aetna raised premium rates for individual members in Connecticut with almost no oversight from state officials, despite increases that surpassed industry norms, the Connecticut Mirror reported. For almost six years before the Affordable Care Act was passed, Aetna was the only insurer in Connecticut and one of a few insurers in the entire country with such a consistently good margin of business. But state regulators never rejected any of Aetna's rate increase requests. Consumer advocates say high rate increases demonstrate a minimal investment on actual care. "The less money you put into medical care, the more money you have for overhead, bonuses ... and profits," Blake Hutson of Consumers Union told the Mirror. However, Aetna stands by its rate hikes, saying it charged competitive prices. Article