Blue Cross Blue Shield Of Michigan-Layoffs and Rate Hikes
Posted Jan 22 2009 5:57pm
Blue Cross Blue Shield of Michigan (BCBSM) recently announced they may lay off as many as 1,000 employees. In addition, BCBSM will be seeking double digit rate increases on many of their individual health insurance plans when they file their new rates with the office of financial and insurance regulation.
Rate increases sought will on average be a blistering 55% on individual health plans (which will impact more than 400,000 enrolled members), and 32% for their portfolio of Medicare supplement plans.
BCBSM has stated that the aforementioned health insurance rate increases are necessary due to the Michigan legislatures failure to act on two bills to reform individual health insurance in Michigan.
More information about Michigan health insurance, as well as other health insurers offering individual health plans, as well as health plans for seniors.