Mich. regulators OK 22% Blue Cross rate hike

Here's hoping that a large proportion of those getting rate increases are teabagging wingnuts...

Mich. regulators OK Blue Cross rate hike
Christina Rogers / The Detroit News

State insurance regulators have approved a request Thursday by Blue Cross Blue Shield of Michigan to hike rates by an average of 22 percent on about 163,000 policies bought by people who pay for their own medical insurance.

The approved increase is less than the original request from Blue Cross, which would have hiked monthly premiums on its non-group policies an average of 56 percent and its group-conversion policies an average of 41 percent. The state's insurance commissioner also approved an interim increase of 4.7 percent on Blue Cross's supplemental Medicare policies, known as Medigap, which will affect more than 200,000 seniors in Michigan.

Last week, Blue Cross and Attorney General Mike Cox struck a deal in which the state's largest insurer agreed to ask for less. The 22 percent increase goes into effect October 1.
http://www.detnews.com/article/20090813/METRO/908130465/Mich.-regulators-OK-Blue-Cross-rate-hike

This comes at a bad time with the economy the way it is.

I feel bad about this because my father is undergoing radiation and chemo for cancer of the esophagus...and is now 85 years old. They really know how to stick it to the elderly! Never used his Blue Cross/Blue Shield but twice in his life...overcame prostate cancer; cured. Now this...they should have NOT raised it on the elderly!

Especially on long-time policy holders, and over a certain age limit. The insurance companies are getting something in return from those stupid politicians in Michigan.