Michigan Health Insurers Seek Hefty Rate Increases
Some Michigan health insurers are seeking hefty rate hikes, citing pricey medication and new, older customers.
Some insurance companies in Michigan are seeking hefty rate increases.
The insurers say expensive medication and increased demand for health care coverage in the wake of the Affordable Care Act are driving the request for rate hikes.
Blue Cross Blue Shield of Michigan wants an average increase of more than 11 percent for plans sold both on-and-off of the state health care exchange.
Health Plus of Michigan is seeking a rate increase of almost 36 percent for the 5,000 people it covers.
United Healthcare and Consumers Mutual of Michigan are requesting rate hikes of between 15 and 20 percent.
Some industry experts say health insurance companies across the country are making similar requests, as new customers enter the marketplace who are older but not yet eligible for Medicare.
If the rate hikes are approved they will take effect at the start of next year.
