New details have been released regarding Blue Cross Blue Shield of Michigan’s plans for rate hikes. The insurer is requesting that the Michigan Office of Financial and Insurance Regulation allow them to increase their premiums. Changes BCBSM is requesting would have an impact on many people
- Individual health insurance policies would be, on average, 56% more expensive.
- An average cost increase of 31% would hit seniors with Medicare supplements.
- Group conversion plans, which are for individuals transitioning out of employer-sponsored coverage, would be set to increase by 42%.
If the state approves the proposal, it will take effect on June 1. Michigan health insurance would become far more expensive if it passes.
