Posts Tagged - ‘harvard pilgrim health care’

Post border

Health Insurance Company Harvard Pilgrim Agrees To Lower Rates

Monday, July 5th, 2010

Image: Guerilla Billboards

Regulators have been facing off with health insurance companies over proposed premium increases that the former consider excessive, and the latter think are necessary to continue doing business.

Apparently, compromise is possible. Harvard Pilgrim Health Care agreed to a settlement with the state of Massachusetts that limits their individual and small group health insurance rate increases. The decrease is insignificant: their initial requests ranged from 8% to 12%, while the new deal has increases of 7% to 11%.

Since earlier caps on premiums set by the state were rejected on appeal, the insurer could’ve kept fighting. However, they chose to move on instead–although they will still lose money under the agreement. Thankfully for consumers, Harvard Pilgrim (the second-largest insurance provider in the state) also agreed not to retroactively bill policyholders since April for the higher rates.

Post border
Post border

Health Insurance Rate Cap Denied In Mass.

Friday, June 25th, 2010

Consumers looking for affordable health insurance on the open market won some and lost some today. This is an example of the later: a state insurance appeal board just overturned a cap on rates that was set by Gov. Deval Patrick in Massachusetts.

The rate cap was intended to put a lid on seemingly endlessly rising health insurance rates. Massachusetts health insurance companies claimed that the cap would irreparably damage their businesses.

The appeal board sided with Harvard Pilgrim Health Care, which was worried that increasing health care costs combined with the cap would make them insolvent. That insurer’s proposed rate increases were considered reasonable given those concerns. They are now free to implement the premium hikes, initially scheduled to become effective on April 1st. However, the three-month period they were meant for is about to finish–although they may charge the higher rates retroactively.

Post border
Post border

More Increases Requested By Massachusetts Health Insurance Companies

Friday, June 4th, 2010

Image: cliff1066™ under CC 3.0

After butting heads with the state government and Governor Deval Patrick’s office, several Massachusetts health insurance companies have once again proposed double-digit rate increases.

Blue Cross Blue Shield of Massachusetts wants an average increase of 12%, and Harvard Pilgrim Health Care wants ones that reach up to 11.9%. These are similar to the previously proposed hikes that were rejected two months ago. They say that they’ve been losing money since then.

If their requests are approved this time around, the higher premiums will apply to health insurance plans sold for three months, beginning July 1st.

Post border