July 1, 2010 Blue Cross Blue Shield of Massachusetts today announced that third quarter rates for certain PPO products affecting a small number of members in the individual and small group market are approved by the Division of Insurance (DOI). The DOI has requested we share additional information on remaining plans before it renders a decision. We are currently reviewing that request.
Our goal in this process with the Division of Insurance is to achieve premium rates to cover the cost of the benefits in these plans.
Ultimately, we are committed to working with other stakeholders to achieve a rational, meaningful, sustainable solution to the problem of rising health care costs.
Blue Cross Blue Shield of Massachusetts (www.bluecrossma.com) was founded 73 years ago by a group of community-minded business leaders. Today, headquartered in Boston, BCBSMA provides coverage to nearly 3 million members, 2.5 million in Massachusetts. BCBSMA believes in rewarding doctors and hospitals for delivering safe and effective care, and in empowering patients to take more responsibility, become educated health care consumers, and become stronger partners with their doctors. Blue Cross Blue Shield of Massachusetts is an independent licensee of the Blue Cross Blue Shield Association.