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Group questions Regence rate-hike

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Thursday, August 09, 2012

A consumer group says Regence BlueCross BlueShield hasn't justified its rate-hike proposal that would affect 52,000 people who buy insurance in the individual market.

The Oregon State Public Interest Research Group released its analysis on Wednesday. The organization has a contract with state insurance regulators to analyze proposed rate hikes.

Regence wants to hike premiums by 9.6 percent, saying its medical and prescription drug costs will increase at an annual rate of 10.1 percent. The consumer group says Regence has not provided enough information to back up its projections for cost growth.

Read more at Bloomberg Businessweek.

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