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Not expecting to profits for BCBSM on Medigap even with the new rates. For Detroit Michigan, Blue Cross Blue Shield of Michigan is extending the freeze on their rates for their Legacy Medigap health care supplement plans. This is extended until the end of this year. This enables almost 200k members to have more time in preparation for these rates increase as expected. This takes effect Jan 1st 2017. The increases are the first increases since 2011 for the Blue Cross Legacy Medigap Plan.
For some of the lower income residents of Michigan who have purchased Medicare supplement plans. There will be help as the BCBC recognizes the Michigan Health Endowment Fund which part is to be used to provide financial support after January 1, 2017 for residents in the lower income bracket. This endowment fund of $210 million Blue Cross has paid into will be used to subsidize the lower income residents.
Those Senior’s living on fixed incomes are going to have concerns as there asked to pay the increased amounts for their insurance coverage though it has been five years since any increased rate changes. Understanding the concerns, the BCBC of Michigan helps their members by offering assistance as well as pointing them to resources that can help them.