Monday, May 24, 2010

Blue Cross Blue Shield Seeks Rate Hike

Blue Cross Blue Shield is asking state regulators to allow a rate increase of up to 15 percent on individual policies. The increases would be for 189-thousand policy holders who don't have workplace coverage. The proposed increase comes a year after Blue Cross increased rates for the same group by an average 22 percent. Michigan Attorney General Mike Cox, who along with the state's insurance commissioner must approve the premium increase, questioned the rate hike amid a growing monetary surplus by Blue Cross.



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