The state Division of Insurance denied 235 of 274 increases proposed by insurers. The requested premium increases were for plans covering individuals and small businesses.
The denial of the insurers proposal marks the first time the state has turned down health premium increases.
Jay McQuaide, vice president of the state’s largest health insurer, Blue Cross and Blue Shield released this statement,
“We share the concern about rising health costs, but we don’t think government price controls will solve the problem”
Insurance Commissioner Joseph G. Murphy found that most of the base rates proposed by state health plans were “unreasonable relative to the benefits provided,” according to a statement issued by the agency.
Further information on this story can be found in the original article in the Boston Globe.