Welcome! Login | Register
 

Weiss: In 2050, Where Have All the Family Caregivers Gone?—Weiss: In 2050, Where Have All the Family…

Construction in Worcester - Week of April 23—Construction in Worcester - Week of April 23

Smart Benefits: CMS Releases HHS Notice of Benefit & Payment Parameters for 2019—Smart Benefits: CMS Releases HHS Notice of Benefit…

Our First Ladies are a National Treasure – Sunday Political Brunch—April 22, 2018—Our First Ladies are a National Treasure –…

Monfredo: Powerful Documentary - Generation Zapped - A Must See This Thursday—Monfredo: Powerful Documentary - Generation Zapped - A…

Fit For Life: Stay Strong, Focused on Being Better at Everything—Fit For Life: Stay Strong, Focused on Being…

Bruins Rally Falls Short, Lose 4-3 to Maple Leafs in Game 5—Bruins Rally Falls Short, Lose 4-3 to Maple…

Revolution, Columbus Crew Play to 2-2 Draw—Revolution, Columbus Crew Play to 2-2 Draw

MA Gained 4,700 Jobs in March—NEW: MA Gained 4,700 Jobs in March

Celtics Get Blown Out by Bucks in Game 3, 116-92—Celtics Get Blown Out by Bucks in Game…

 
 

NEW: Direct Pay Rate for Health Insurance Will Go Up

Thursday, March 10, 2011

 

Rhode Island Health Insurance Commissioner Christopher Koller has approved a 1.9% average rate increase for Direct Pay Products.

The rate increase is six percentage points lower than the original request for a 7.9% increase issued by Blue Cross and Blue Shield of Rhode Island (BCBSRI), but slightly higher than was recommended by the Attorney General and case Hearing Officer.

"This Office has to balance the need for solvency of Blue Cross and the lowest rates of increases needed," Koller said. "The rate increases granted here find that balance."

In lowering the rate of increase, Koller eliminated anticipated contributions to reserves, disallowed costs of premium tax on commercial insurance and allocation of costs of publicly purchased vaccines, and reduced Blue Cross trend factors for three of eight medical-sevice categories.

He also ordered Blue Cross to offer no rate increase to the small number of its customers over age 65 in Direct Pay.

Koller noted that Direct pay subscribers, who purchase their insurance without employer contribution, are among the most vulnerable health insurance consumers.

"They stand the most to gain from health care reform," Koller said, "because of federal subsidies and the introduction of more healthy individuals into the market with an individual mandate. In the mean time, careful rate oversight and the efforts of Blue Cross make our individual market considerably healthier than in almost any other state, many of which are experiencing double digit rate increases."

The rate increases are an average — some subscribers will see greater increases and others less — and will go into effect for enrollees renewing their coverage on or after April 1. Blue Cross may accept Kroller's decision or appeal it in Court.
 

 

Related Articles

 

Enjoy this post? Share it with others.

 

X

Stay Connected — Free
Daily Email