This bill modifies Connecticut insurance regulations by granting the insurance commissioner additional authority to reduce health insurance premium rate increases for certain carriers. Specifically, if a health carrier’s average premium rate increase exceeds the state’s health care cost growth benchmark for two consecutive plan years, the commissioner can reduce the carrier’s requested rate by up to two percentage points, in addition to any other authorized rate reductions. The bill applies to both individual health carriers and small group health insurance policies, and gives the commissioner the power to disapprove insurance policy forms that do not comply with legal requirements or that might be considered unfair or deceptive. The new provisions will take effect on January 1, 2026, and aim to provide more oversight and potentially lower health insurance costs by linking premium increases to a predefined health care cost growth benchmark. The bill is part of the Governor’s budget recommendations and seeks to create more transparency and affordability in health insurance rate-setting processes.