LANSING, MI – Blue Cross Blue Shield of Michigan has tentatively agreed to raise rates for nearly 200,000 of its health insurance customers by an average of 22%, a significantly lower rate increase than originally sought.
The agreement reached Thursday with Attorney General Mike Cox is subject to approval by state regulators before it could take effect.
The agreement would cover rate increases for Blue Cross customers who have so-called non-group and group conversion policies. Those policies typically are bought by people under age 65 who aren't covered by employer-based or government plans.
Blue Cross originally requested to raise those rates an average of 42% to 56% earlier this year.
Cox challenged the rate increases.