Blue Cross rate request includes deductible increase
PROVIDENCE, RI – Blue Cross Blue Shield of Rhode Island isn't just requesting a four percent rate increase for residents that buy their own insurance; it's planning on increasing deductibles as well.
Last month, Blue Cross Blue Shield of Rhode Island sent a request to the state's health insurance commissioner, seeking permission to raise its direct pay rates by an average of 4.4%. This rate request ritual takes place every year, but this time the application was a little different.
The insurer says it plans to raise deductibles by $500 for many of its individual plans and by $1,000 for many of its family plans.
In the filing, Blue Cross says under a new program, customers who do not spend their entire deductibles will see them decreased the following year.
The health insurer says it plans to formally announce the changes in mid January and won't comment until then.
Read the entire request here
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