Blue Cross reduces rate request to 2.4%
So, this morning I went to the public hearing on Blue Cross Blue Shield’s average 4.4% rate request. I listened to the public testimony and left while the hearing officers went over the formal paperwork. I probably should have stuck around, because Blue Cross made a change to its proposal. Check out item four in BCBSRI’s position statement. Here’s the relevant portion-
Since the filing, Blue Cross has worked to negotiate lower pharmacy costs beginning in 2013 which has resulted in Blue Cross reducing the average increase to approximately 2.4 percent. The filing does not include any contribution to reserves.
Blue Cross also pointed out some data I missed in my explanation of its proposed changes to deductibles and out of pocket limits. I’ll write an explanation of what I missed as soon as I clarify a few points.