This is from the Detroit News. BCBSM is requesting a substantial increase of 31% on their individual Medgap Plans. This is only a filed request and HAS NOT been approved.
They have competitively priced plans A and C (Community Rated). They also have 209,000 Medigap members in Michigan. The last time they requested a rate increase was 2007 and they requested over 50% and only got 19%, so I doubt they’ll get the full increase they’ve requested. Here is the press release from 2007 with rates.
Also, it might take another 4-6 months before the request is finalized. If approved, it may represent some opportunity in Michigan for competing plans.
[...] has been no progress on the 31% Medicare Supplement rate increase which BCBS of Michigan files. (I initially blogged about this here.) BCBS of Michigan currently has an eye-popping 210,000 Medicare Supplement policies in [...]