Rhode Island Approves Health Insurance Rate Increase

Rhode Island health insurance is about to see a 1.9% increase in health insurance rates for those who purchase policies from Blue Cross and Blue Shield of Rhode Island.  The article “State Approves Reduced Health Insurance Rate Hike” by Richard Salit on ProJo.com summarizes the details behind the hike.
The 1.9% is actually a reduced figure when compared to what Blue Cross and Blue Shield of Rhode Island had originally requested which was an increase of 7.9%.  This huge jump could devastate some families and the compromise will make many consumers very happy.  Commissioner Christopher F. Koller recently said that the approved rate increase finds the right balance.  Laura Calenda, Blue Cross spokeswoman, says the company is very disappointed they 7.9% wasn’t approved since it was justified.  She says Blue Cross has taken aggressive steps to help slow down the increase of premiums and they strive to make health care more affordable.
Health care costs and health insurance premiums are going up around the nation, but it’s good to know government officials are staying on top of the increases to ensure they are not outrageous and consumers can still afford quality health care.  The rate increases would go into effect April 1st, but the company may appeal the decision which could delay the process.