Massachusetts certifies its first two cooperative insurance purchasing groups

More than a year after Massachusetts passed a law allowing for the state’s first cooperative insurance groups to operate in the state, two organizations have been certified as purchasing cooperatives. The Retailers Association of Massachusetts and the Massachusetts Association of Chamber of Commerce will now be able to negotiate with health insurance companies in the hopes of producing more affordable insurance products. The groups hope to attract thousands of new consumers with these products and alleviate some of the financial burdens that have been damaging the state’s economy. Small businesses…

Read More

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

Advocacy groups in Massachusetts call for a yearlong freeze on rising insurance rates

Massachusetts legislators are currently working with leaders in the state’s insurance industry to change how residents pay for health care. Meanwhile, two consumer advocacy groups have been vehement in their cries for a one-year reprieve from premiums increases. Residents of Massachusetts have been struggling with rampant rises in the cost of insurance coverage. Rising rates have forced some to make significant cuts in their budget to be able to afford coverage while others are now living without any insurance. Today, the Massachusetts State House will play host to a rally…

Read More