UnitedHealthCare asks Ore. regulator to okay 16.8% rate hike on small business. To affect 14,068
DCBS:
The Oregon Insurance Division must approve the rates of all health benefits plans in the individual, small employer and portability markets.
Rate Request: Proposed rate increase: 16.8 percent from one year earlier. Effective date: 2/1/2011 Oregonians impacted: 14,068 (actual membership as of July 2010)
Basis for rate request Medical and prescription costs: Medical costs increased by 13.5% percent since 4/01/2009 to 3/31/2010 and prescription costs increased by 12.5% percent during the same period. Medical and prescription benefits: Dependents to age 26 and 100% Preventive coverage are now covered for all groups.
Five-year rate history 2/1/2007: 11.8% Increase 2/1/2008: 11.8% Increase 2/1/2009: 14.1% Increase 2/1/2010: 14.3% Increase 2/1/2011: 16.8% Increase
Read the full article here. Discuss below.
Posted on Dec. 03, 2010
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connect with blueoregon
3:41 p.m.
Dec 7, '10
Net after tax income 2009: $3.822B 2006-09: $15.612B
Yeah, they really need to raise rates.