CHICAGO (AP) — Blue Cross Blue Shield of Illinois and several other insurers are making initial double-digit rate increase requests for some Illinois health plans for 2016.
The federal government on Monday posted companies’ proposed rate increases of 10 percent or more. The rates are under review and won’t be final until October.
Illinois requests are as high as 42 percent for a plan offered by Time Insurance Company. Blue Cross is requesting a 38 percent increase for one plan. Other double-digit hikes were requested by Coventry, Humana and Health Alliance.
Blue Cross Blue Shield of Illinois spokeswoman Lauren Perlstein says rates are based on experience from offering plans on the Illinois insurance marketplace. She says increases are driven by the cost of care, use of services, drug costs and new technology.