Blue Cross seeks 12.7% individual-rate hike

PROVIDENCE – Blue Cross & Blue Shield of Rhode Island has asked state Health Insurance Commissioner Christopher F. Koller to approve rate increases for its direct-pay products – available to individuals who don’t qualify for group or government coverage – that would increase premiums by an average of 12.7 percent as of April 1.
The rate hike would affect sicker subscribers the most, those in the “basic” pool; they would pay an average of 15 percent more. The “preferred” pool, which includes people who pass a health-risk assessment, would see rates rise by 8 percent.
To ease the burden on lower-income subscribers, Blue Cross offers a premium assistance program. In addition, the insurer is offering one option that includes a 10-percent “wellness reward” refund for subscribers who meet certain requirements.
Koller began holding hearings on the application last week; another hearing is scheduled for Jan. 28. A year ago, Koller approved an average 4-percent rate hike, effective last April 1.