Blue Cross Blue Shield of Michigan will raise rates from 4 percent to 25 percent effective May 1 for plans covering workers taking buyouts or for those whose companies eliminated Blue Cross health coverage.
The insurer's rate increases affect about 60,000 people in Michigan on policies that were purchased to extend Blue Cross coverage that was formerly provided by employers, the Detroit Free Press reported.
Monthly rates will rise to $425 from $340 for one of the high-option plans and to $126 from $117 for one with fewer benefits.
The increases, approved earlier this month, will be in effect through April 30, 2008.
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