Nearly 10,000 Blue Cross Blue Shield of Western New York customers may see a significant increases to their health care premiums. One person received a notice that states they could see a rate hike as high as 58%.
The healthcare company that provides for 800,000 Western New Yorkers says just over 1% of their customers would be affected by this increase. That’s just over 8,000 people. The proposed increase would only affect premium rates for individuals.
Blue Cross of Blue Shield of WNY is filing a request with New York State Department of Financial Services. If approved the increase would apply to 2018 premiums.
The company attributes the changes to a portion of the American Care Act known as ‘risk-adjustment’ and rising prescription medication prices.
The Department of Financial Services is providing a 30 day comment period for affected customers.