R.I.'s top health insurers seek big jump in rates
11:15 AM Wed, May 20, 2009 | Permalink
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Get the 7 to 7 on your mobile at www.projo.com. Twitter: projo | RSS | Email alerts  Koller The dominant health-insurance companies in Rhode Island are seeking large rate increases for next year, said state Health Insurance Commissioner, Christopher F. Koller. If approved, the new rates would mean huge cost increases for businesses already struggling through a recession that has has lasted more than two years in Rhode Island. A large increase could push more employers to discontinue health-care coverage for workers and lead others to raise employee contributions. For businesses with 50 or more employees, Blue Cross & Blue Shield of Rhode Island has proposed a 16.3 percent rate hike. That increase reflects a proposed doubling of the percentage of revenue Blue Cross diverts to reserves and profits, to 3.3 percent from 1.4 percent. United HealthCare of New England, a for-profit insurer, has asked to raise its "large group" rate by 11.6 percent. Blue Cross insures 70 percent of Rhode Islanders who receive health insurance through their employer, excluding state workers and employees at companies that are self-insured. United HealthCare insures 25 percent of state residents in that category. Koller is expected to rule on the proposed rate increases next month. The new rates could go into effect as early as October. "This is big," he said in an interview. "This is what people are paying for health care costs." 
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Am I going to get a raise to help pay for the rise in health care costs??? I can barely make ends meet as it is, and now I'm going to have to shell out more for something I hope to never have to use??? With the prices of EVERTHING going up and salaries going down how are we supposed to live??
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Must pay for the very nice new Blue Cross building in downtown providence.
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It is time to take a good look at where all this money is going within BCBS. Has there been a point in time when they have NOT asked for an increase in premium for at least one of their products every year? Time to get rid of the multilevel managers at high salaries and start thinking about the economic times we are in. I don't think they can prove justification for this huge inrease as they have millions in their "stores" - take less of a profit and give the public a break for once.
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The state of RI is taxing all the Health companies includung BCBS. They are going to pay taxes on premiums that they have not recieved. By June 2009 they need to pay taxes for January-December of 2009.
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I know it's not an easy process, but once the economy picks up a little, take advantage of the free market economy and look for better jobs; those with full benefits for a nominal fee.
Unless people start leaving thankless jobs for better ones, under-appreciating employers will keep taking advantage of their employees. Why would an employer improve things if even when they don't, people still work for them.
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I am in the middle of trying to reconcile the 25.5% increase that my company was hit with this year. And, Blue Cross is already talking about 16% minimum increase for next year! This is absolutely insane! Where is this money going to come from? We maintain our pricing to retain our customer base. So, there are no increased revenues to offset this obscene increase. My employees have foregone pay increases for several years. And, with the increases in Blue Cross costs, this amounts to a decrease in wages.
What is the State legislature going to do to stop this rape of small businesses in RI????
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Why hasn't anyone looked into their pr firm? they pay them over a million a year!!
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