BCBSM pointed to several contributors for the request, including rising drug prices, 20 percent of individual BCBSM enrollees dropping coverage after receiving health services, a lack of young policyholders and operating as the only preferred provider organization plan on Michigan’s ACA exchange.
Last year, the payer received $166 million in federal subsidies to offset the cost of offering coverage to low-income consumers on the exchange.
BCBSM’s proposed increases will require regulatory approval.
More articles on payer issues:
Cleveland Clinic, Oscar Health to offer co-branded health plan
Centene to enter ACA exchanges in 3 states
BCBS of Louisiana names CMO: 5 notes
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