Commissioner Christopher F. Koller cut a 20.1 percent rate increase request for large-group business submitted by UnitedHealthcare to 10 percent. He also trimmed a 10.5 percent rate increase request for large groups from Blue Cross & Blue Shield to 9.6 percent. UnitedHealthcare also requested an 18 percent increase for groups of 50 of fewer employees, which the commissioner reduced to 10 percent.
Commissioner Koller allowed a 4.8 percent rate increase requested by Tufts Health Plan.
The state’s rate review takes place on an annual basis, usually during May and June. The review process was extended this year because UnitedHealthcare’s request required extensive revisions, according to the report.
Commissioner Koller noted in a statement that the cost of medical care in Rhode Island has risen 9 percent over the past year, resulting in premium increases of 4.8-10.6 percent for small and large fully insured groups.
Read the Business Insurance report on premium rate increase requests.
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