Matt Hollister No Comments

April Health Insurance Rates Approved

As we have seen in the last few years, the 2nd quarter small group health rates have been approved by the Massachusetts Division of Insurance after a delay. The insurance carriers still need a day or two to load these rates into their systems, so we expect to have access to them early next week.
The carriers were looking for rate increases that were on average slightly over 10%, some carriers were requesting rate increases as high as 13% and others slightly below 10%. Each group will also be affected by changes in plan design and or changes in their demographic (average age, family size etc.), so the released rates may be higher or lower than average.
Despite the relatively large number of companies with a 4/1 renewal date we expect to have all rates released to customers within a day or two of our receiving them.
Please let us know if you have any questions.
Matt Hollister, L.I.A., M.P.H.