BCBS: Rates could spike by double digits.
How Obamacare Could Cause Another Round of Health Insurance Rate Increases
Obamacare is still causing Michigan’s small business owners headaches.
In July, Blue Cross Blue Shield of Michigan told state regulators they would need permission to hike premiums by “an average 18.7 percent for individual plans, along with a 14.8% increase for its Blue Care Network individual plans,” according to the Detroit Free Press. The changes could affect about 200,000 Michiganders.
“Our pricing is affected by the same forces seen elsewhere in the country,” Blue Cross spokesman Andy Hetzel said. “We continue to see people dropping coverage after signing up, younger people staying uninsured by choice, and specialty drug costs weighing on premiums.”
Meanwhile, Priority Health also requires an average of 13.9 percent rate increases for about 113,100 people.
