Health Insurance Rates To Rise 2.1% In Quarter
Health insurance premiums for individuals and small businesses in Massachusetts will increase on average 2.1 percent in the fourth quarter of 2012, according to regulators.
The Division of Insurance on Friday released base-rate changes for the quarter starting Oct. 1. United Health Care was granted the largest increase of 6.1 percent, while six carriers filed for rate decreases.
Blue Cross Blue Shield HMO subscribers will see an increase of 3 percent, while non-HMO subscribers will see a smaller 1.1-percent jump. Other carriers requesting increases that were approved by the Division of Insurance include Harvard Pilgrim HMO (3.6 percent); Harvard Pilgrim non-HMO (2.9 percent); Health New England (0.3 percent); and Neighborhood (0.7 percent). Celticare rates will decrease 4.9 percent, while Connecticare filed for a 0.6 percent decrease, Fallon HMO filed for a 2.2 percent decrease and Fallon non-HMO a 2.3 percent decrease. Tufts HMO will also decrease 0.6 percent.
Overall, the rate increases approved for the fourth quarter are 3.4 percent smaller than those granted for the same period in 2011, when premiums increased, on average, 5.5 percent. The announcement came the same week Gov. Deval Patrick signed a significant health care cost containment bill into law, touting progress being made in the industry to curb cost increases.
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