State regulators approved the hike, which is lower than the 39 percent average increase the Birmingham, Ala.-based payer requested. BCBS of Alabama cited hefty losses on individual plans as reason for the increase, and expects to see more losses this year.
This is the second consecutive year BCBS of Alabama raised premiums by double-digits. The insurer services the majority of the 165,000 Alabama residents who purchase individual health plans through the federal exchange.
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