Massachusetts Rate Increases Stay Below 2% for Second Consecutive Quarter
State insurance regulators recently approved an average 1.2 percent quarterly increase in base health insurance rates in Massachusetts, according to a Bloomberg Businessweek report.
Regulators also announced that two of the state's largest insurers would reduce rates in the three-month period starting July 1. This is the second consecutive quarter that rate increases have stayed below 2 percent, according to the state Division of Insurance.
Regulators approved rate hikes for Blue Cross Blue Shield of Massachusetts, the state's largest insurer, of 1.2 percent from HMO subscribers and 2.7 percent from non-HMO customers.
According to experts, the lower rates result from cooperation between insurers, medical providers and government officials.
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