Bismarck Tribune - North Dakota News - Insurance premium hike is sought

Insurance premium hike is sought

Jun 17, 2008 - 04:06:36 CDT

FARGO (AP) - Blue Cross Blue Shield of North Dakota has asked for a 14.8 percent increase in premiums for a group that provides individual health insurance.

Blues Chief Executive Officer Mike Unhjem said the so-called bank depositor's group covers about 40,000, including those who are self-insured. The Blues wants the premium increase to take effect Aug. 1.

State Insurance Commissioner Adam Hamm said the request was submited May 6, and he expects to make a decision in a couple of weeks.

"We obviously do our own analysis of the numbers they provide. We have our own actuary on staff," Hamm said Monday.

Last year, the Blues sought a 10 percent increase for the individual group. Then-Insurance Commissioner Jim Poolman granted 9.4 percent. The previous year, Hamm said, the insurer sought a 4.2 percent increase and was allowed 2.9 percent.

The Blues sought a 17.3 percent increase in preimums for employer groups last year, and the insurer was allowed a 9.9 percent increase. Unhjem said the Blues will submit a premium request for employer groups later this summer but said it is too early to speculate on what it will propose.

Blue Cross Blue Shield said in May that it might face an underwriting loss of about $22 million when its fiscal year ends Dec. 31. The loss represents the difference between premiums it collected and claims expenses paid. Unhjem said the Blues had budgeted for a $15 million underwriting loss.

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Comments

kingkn wrote on Jun 18, 2008 2:51 PM:

" To whatmeworry: I could tell it was sarcasm because I could read what you infering wait, nope I couldn't. So I could hear what you were infering, oh wait I couldn't do that either! Sad thing is people actually believe what you said. Not just for healthcare, but a lot of people think obama is the second coming. If you listen to them talk about him and how he will solve all of America's problems. "

WhatMeWorry wrote on Jun 18, 2008 1:52 AM:

" To kingkn: Look up sarcasm. It's in the dictionary. Between sap and stupiod. "

Funny Pages wrote on Jun 17, 2008 7:24 PM:

" Thanks WSI for this increase. When WSI stopped paying injured workers' claims BCBS started having to foot the bill. Nothing like skirting your legislative duties and making the little guy pay. Thanks State Chamber for the kick in the teeth. "

kingkn wrote on Jun 17, 2008 5:30 PM:

" To rnchr: Sorry pal, Blue Cross pretty much has a monoply in North Dakota "

kingkn wrote on Jun 17, 2008 5:29 PM:

" To WhatMeWorry: Are you serious, blah ha ha ha ha ha you will just pay for your healthcare in raised taxes. They will go up dramatically too. We simply don't have the money to pay for that without rasising the money in taxes. "

Howard wrote on Jun 17, 2008 1:22 PM:

" Who do they think they are...an oil company,or perhaps MDU...? "

WhatMeWorry wrote on Jun 17, 2008 1:04 PM:

" No worries, after Obama's coronation everyone will have free health insurance. "

CEO PAy wrote on Jun 17, 2008 11:17 AM:

" I bet the CEo won't tak a cut in pay for his own fault? "

CIndyloo wrote on Jun 17, 2008 9:39 AM:

" And we wonder why people can't afford to have health insurance. Something has to give. What people have to pay for cancer care is unreal. I was surprised on all the people who go in to have gastric bypass surgery and insurance covers that too. "

My Opinion wrote on Jun 17, 2008 8:33 AM:

" I am one of the group BCBS is trying to get the increase from. There are two of us on the policies and we pay close to $700.00 per month for insurance. Only, the insurance hardly covers anything. We've used a total of about $200.00 in benefits this year (prescriptions), yet they want this big of a hike? I hope it gets turned down because it's to the point that I can't afford health insurance. "

Bis wrote on Jun 17, 2008 8:22 AM:

" WOW!
A 14.8% increase. Most employers only give their employees a 1-3% pay increase. "

rnchr wrote on Jun 17, 2008 7:36 AM:

" guess now it is definitely time for me to look for a different health insurance. the premiums just keep increasing and I can not afford it. "

Grumpy Old Republican wrote on Jun 17, 2008 7:33 AM:

" WHAT?? Are they only making a TON of money as opposed to OBSCENE money? I don't care for government intervention into private industry, but I think it's time that some short leashes are put on the pharmaceutical industry, health insurers, and malpractice lawyers. "

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