By MEGAN HALL
Providence, RI – Most Rhode Island businesses who offer health insurance will see adouble digit or close to a double digit rate increase next year.
The state's health insurance commissioner has approved an average 10 percent rate increase for employers that offer United Health Care and 8 to 9.6 percent increases for Blue Cross Blue Shield of Rhode Island. Tufts Health Plan, which has far fewer members, will pass on a nearly five percent rate increase.
Health Insurance Commissioner Chris Koller says rate increases will continue as long as the cost of medical care goes up.
"Those costs the health insurers say are going up at about 10 percent rate now," he says,"and the reasons for that are not always within the health insurers' control."
Koller says he wants to create medical spending targets for health insurers as a way to reign in rising health care costs. The approved rate increases take effect when members renew their plans in 2012.
View the Health Insurance Commissioner's complete rate decision. here
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. email@example.com.