Massachusetts residents to see insurance rate increases

Ohio health insurance

Regulators approve rate increase proposal The Massachusetts Division of Insurance has announced the approval of a health insurance rate increase throughout the state. The increase is expected to have an effect on individuals and small businesses and will come from one of the state’s largest insurance companies. Initially, insurers had sought approval for large rate increases, typically 10% or higher. State regulators, however, have succeeded in keeping rate hikes at or below the 2% threshold for nearly two years running. With health care reform bringing significant changes to health insurance…

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Massachusetts health insurer posts earnings, shows marked increase in profits and narrowing of losses

Despite a tumultuous year, Blue Cross Blue Shield of Massachusetts is reporting high earnings in the second quarter. Thus far, 2011 has proven to be relentless in the number of natural disasters occurring throughout the U.S. While speculations regarding the losses faced by insurance companies have been somewhat grave, the fact of the matter is that many insurers are earning more than they did before the disasters. There can be no doubt that these insurers, most of whom operate in the property market, have, indeed, suffered losses, but their ability…

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