Blue Cross Blue Shield of Michiganannounced that it would implement annual premium rate increases of less than 2% in the second half of 2021 for its small business clients. Since 2015, rate increases for annual policy renewals for small businesses average 1.2%. For the third and fourth quarters of this year, the rate adjustments will only be an average of 1.9% for HMO policies and 0.9% for Blue Cross Blue Shield PPO health plans.
Sandra Fester, Blue Cross Blue Shield of Michigan’s vice president of Middle and Small Group Business, said they understand that it is a critical time for employers, and every dollar counts. The last thing they need is more surprises, especially when it comes to health care coverage. That is why they are doing their part to ensure maintaining health care coverage would not be another issue to worry about, but a value-add for their businesses, she said.