Business Excellence Awards
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By PBN Staff
Last week Blue Cross & Blue Shield of Rhode Island filed for a rate increase of 10.5 percent for its small and large group employer insurance plans for 2012.
The insurer cited anticipated medical claims increases of 6 percent for the year, in addition to a 2 percent increase in administrative costs and a need to bolster its reserves.
Many businesses have been forced to modify their insurance coverage in the last few years, often requiring employees to pay more. Some have even canceled their insurance coverage.
What would your company do if hit with that size increase in health insurance rates?