BCBSRI Can’t Raise Individual Health Insurance Rates
Blue Cross Blue Shield of Rhode Island (BCBSRI) is the only game in town when it comes to the individual health insurance in Rhode Island. For the second straight year, BCBSRI has applied to the Department of Insurance to raise their health insurance rates and for the second year in a row that request has been denied.
The rate increase that BCBSRI was seeking averaged 5.9% across all of their individual health insurance products, but half of that increase was meant for increasing the companies surplus fund.
Blue Cross and Blue Shield of Rhode Island has no plans to appeal the ruling.
