Blue Shield in Washington state to increase health insurance rates

Health Insurance News

Premiums to rise by an average of nearly 15 percent for families and individuals. The Blue Shield health insurance entity has asked permission to raise its rates in Washington state by nearly 15 percent starting at the end of October. The state Commissioner has now been asked for permission to boost rates on October 31 by an average of 14.7 percent. In its proposal, it has claimed that these new boosted rates would be maintained until 2013 is complete. It justifies its request by saying that the additional funds are required…

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Washington is one step closer to building its own health insurance exchange

Washington lawmakers have passed a bill that opens the way for a health insurance exchange to take root in the state. The bill will set up rules that will help the state prepare for the construction of the exchange and govern its operation for the foreseeable future. Legislators believe that this will help the state fully comply with the Affordable Care Act of 2010 and will help it adhere to federal deadlines. Currently, the exchange is expected to be fully operational by January 2014. The rules established by the bill…

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Oregon’s low cost health insurer takes a rate hike

Last week, Oregon-based Regence Blue Cross Blue shield was called upon to answer concerns from regulators regarding proposed rate increase of 22%. The state’s Insurance Division hosted the public meeting, the first of its kind in more than two decades. 200 Oregon residents attended the meeting to hear firsthand the rationalization behind the rate change proposal. They were also given the opportunity to make comment and question company officials regarding the issue. Regence provides insurance customers to 12% of the state’s population. The insurer often provides affordable coverage for those…

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