Health insurance providers seek 4.5% rate increase

Health insurance providers seek 4.5% rate increase

Regence BlueCross BlueShield is seeking approval for a 4.5% rate increase for small businesses.

 

A public hearing on this rate request, which would take effect in April 2012 and impact 47,806 members, is scheduled for 2 p.m. on January 5 at the Labor and Industries Building in Salem. People can also submit written comments until January 7 by going to http://www.oregonhealthrates.org/
Regence has lost more than 11% of its enrollment since its last rate increase was approved in March 2011 that impacted when its enrollment reached 54,299 members.
In its filing to the Insurance Division, Regence indicated that medical costs had increased by 10.8% since April 2011, while prescription costs grew by 12.2% during the same period, and that these figures “represent a lower-than-expected change in the cost of medical care.”

 

Read more at The Lund Report.

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