Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

August 13, 2012

Health Insurance Rates To Rise 2.1% In Quarter

Health insurance premiums for individuals and small businesses in Massachusetts will increase on average 2.1 percent in the fourth quarter of 2012, according to regulators.

The Division of Insurance on Friday released base-rate changes for the quarter starting Oct. 1. United Health Care was granted the largest increase of 6.1 percent, while six carriers filed for rate decreases.

Blue Cross Blue Shield HMO subscribers will see an increase of 3 percent, while non-HMO subscribers will see a smaller 1.1-percent jump. Other carriers requesting increases that were approved by the Division of Insurance include Harvard Pilgrim HMO (3.6 percent); Harvard Pilgrim non-HMO (2.9 percent); Health New England (0.3 percent); and Neighborhood (0.7 percent). Celticare rates will decrease 4.9 percent, while Connecticare filed for a 0.6 percent decrease, Fallon HMO filed for a 2.2 percent decrease and Fallon non-HMO a 2.3 percent decrease. Tufts HMO will also decrease 0.6 percent.

Overall, the rate increases approved for the fourth quarter are 3.4 percent smaller than those granted for the same period in 2011, when premiums increased, on average, 5.5 percent. The announcement came the same week Gov. Deval Patrick signed a significant health care cost containment bill into law, touting progress being made in the industry to curb cost increases.

Read more

Most Health Care Bill Conferees Sign Off On Accord

Legislators Pass Health Care Cost Bill

Moody’s: New Health Care Law Will Hurt Mass. Hospitals

Study: Nursing Homes Face Cuts

Bay State Health Care, Take Two: Industry Players See Risks, Opportunity In New Law

Health Care Cost-Control Law: Real Relief

Sign up for Enews

WBJ Web Partners

0 Comments

Order a PDF