Massachusetts regulators announced yesterday they have approved an average 4.8 percent increase in base premiums for individuals and small businesses proposed by state insurers, according to a Boston Herald report.
The increased rates will go into effect Jan. 1, 2012. Blue Cross Blue Shield of Massachusetts was granted the highest rate increase, at 5.9 percent, while Connecticare and Health New England received slight rate decreases.
Blue Cross HMO Blue received an increase of 5.9 percent, while Harvard Pilgrim HMO received a 5.2 percent increase and Tufts Health Plan saw a 4 percent jump. United Health Care of New England was the only plan without rates put on file; according to the report, the agency requested more information from the carrier.
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The increased rates will go into effect Jan. 1, 2012. Blue Cross Blue Shield of Massachusetts was granted the highest rate increase, at 5.9 percent, while Connecticare and Health New England received slight rate decreases.
Blue Cross HMO Blue received an increase of 5.9 percent, while Harvard Pilgrim HMO received a 5.2 percent increase and Tufts Health Plan saw a 4 percent jump. United Health Care of New England was the only plan without rates put on file; according to the report, the agency requested more information from the carrier.
Related Articles on Coding, Billing and Collections:
Physician Orders Account for Nearly 70% of Healthcare Premium Dollar
Administrative Expenses for Medicare Plans Continue to Fluctuate
Report: Less Than 10% of Providers Are Halfway Completed in ICD-10 Transition