R.I. Insurers Request Hefty Rate Increases
July 21, 2015
Health insurers, who every year must ask for state approval to hike premiums for their various plans, are seeking increases for 2016 that, in some instances, soar into the double digits.
For example, Blue Cross & Blue Shield of Rhode Island, the state's largest insurer, has requested an average increase of 18 percent on the base rate for its individual and family plans. It is seeking a 4.7 percent hike for small employers and 7.3 percent for large employers. The base rate is a hypothetical plan that provides standard coverage for a 21-year-old.
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