MI Blue Cross holding small group rate increase to 7.4%
Blue Cross Blue Shield of Michigan’s small business customers with up to 49 employees who renew insurance policies this fall will see average rate increases of 7.4%, the insurer said Tuesday. The rate hike is the lowest increase in six years for the Blues and less than last fall’s average 13.1% jump. “By introducing new products, improving cost controls through our innovative partnerships with doctors and hospitals to improve quality and efficiency, and driving administrative savings, we were able to effectively lower our rate increases,” John Dunn, vice president of middle and small group sales at Blue Cross, said in a statement. Many small business customers last year faced 15% to 20% rate hikes, said Karl Albrecht, president of Action Benefits in Southfield, which provides support to health insurance agents who work with small businesses.
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- Carondelet to Pay $35M to Settle Fraud Allegations
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- 3 Traits Personality Assessments Can't Reveal
- CA Powers Up $80M HIE to 'Create Value in the Data'