Insurers in Massachusetts gain approval for health insurance rate increases

Massachusetts insurance regulators have approved a number of rate increase proposals from some of the state’s largest health insurance companies. Governor Deval Patrick supports the approval, citing rising health care costs that threaten to make an already ill economy more volatile. Consumer advocacy groups have decried the rate increases, saying that they put undue financial stress on those struggling to make ends meet. Regulators, however, have only approved proposals whose increases were less than 9% in the hopes of lightening the impact of higher rates. Blue Cross Blue Shield has…

Read More

Massachusetts seeks relief from increasing health insurance costs

Several union organizations in Massachusetts are preparing to make an announcement today regarding a proposal on municipal health insurance. State legislators have been seeking a way to control the costs of insurance before they begin spiraling out of control. Governor Deval Patrick has been pushing for approval to give municipal leaders more authority to make changes to health insurance coverage. A number of municipal and school district leaders call rising insurance costs “budget busters.” They blame the costs associated with health insurance for cut backs in services and employee layoffs.…

Read More

Light on the horizon for Massachusetts health insurance rate hikes

A year after insurers battled over premium increases with Governor Deval Patrick in Massachusetts, they are now seeking to increase rates by 10% or less. Insurers struggled with the Governor after proposing rate increase between 12% and 25%. This unsettled the community and the ensuing battle lasted for five months. In an effort to avoid another stand-off, the companies are limiting themselves to mostly single digit increases. “The dynamic has been changed for health care in this state,” says Barbara Anthony, undersecretary of consumer affairs and business regulation in Massachusetts.…

Read More

Major group insurer slims down on coverage for Massachusetts employees

Blue Cross Blue Shield of Massachusetts recently introduced a new health insurance plan for businesses that has steep fees for things like going to an “out of location” facility or doctor or opting for high cost tests, in an effort to steer members towards lower cost care. Hundreds of small businesses have purchased the plan and it is growing in popularity. But hospitals are waning of reprisals over the practice. The plan was instituted last month as an initiative to reign in the rising cost of health care. Other insurers…

Read More