Blue Cross of Michigan wants to cut up to 1,000 jobs, raise rates

Facing what it says could be losses of more than $1 billion through 2011, Blue Cross Blue Shield of Michigan said it will cut as many as 1,000 jobs and seek state approval to raise rates on its individual health insurance products. The average rate hikes to be sought by Blue Cross are 55% for nongroup plans; 32% for Medicare Supplemental, or Medigap, products, and 42% for those with group conversion plans that carry over prior workplace coverage.