Blue Cross asks Michigan to hike rates; 400,000 to be affected
Detroit Free Press, February 2, 2009
Blue Cross Blue Shield of Michigan has filed a formal request with the state to raise rates for 400,000 people who buy individual health coverage, citing losses in that market that could exceed $1 billion through 2011. The rate hikes, if approved by Michigan's Office of Financial and Insurance Regulation, would take effect June 1. Overall, the average increases would be 56% for individual or non-group plans; 42% for group conversion plans for those who once had workplace coverage, and 31% for senior citizens with supplemental Medicare coverage.
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