BCBS of Massachusetts to raise Medicare plan premiums by up to 34%

Blue Cross Blue Shield of Massachusetts in Boston will raise premiums for Medicare Advantage beneficiaries by up to one-third this year. The insurer said the jump in rates is a result of lower federal reimbursements and higher medical and prescription drug costs, The Boston Globe reports.

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Depending on the Medicare Advantage plan, consumers could face monthly premium increases ranging from $10 to about $60. Beneficiaries with the most popular Medicare Advantage plan will see monthly premiums increase from $59 to $79, while members with the second most popular plan will see monthly premiums jump from $180.50 to $235.   

Nearly 36,000 consumers pay monthly premiums for BCBS of Massachusetts’s Medicare Advantage plans, according to the report. The insurer said affected members were notified in September prior to the 2017 open enrollment for health plans.  

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