Displaying items tagged: Blue Cross Blue Shield of Michigan
The new contract with Sparrow Health System provides an opportunity for Priority Health to carve out a much larger presence in the Lansing-area market, although growth may not come easily.
GRAND RAPIDS — Blue Cross Blue Shield of Michigan has signed a seven-year lease renewal for its downtown Grand Rapids headquarters, providing a sign of confidence amid widespread uncertainty in downtown commercial office space.
GRAND RAPIDS — The advanced medical technology behind BAMF Health Inc.’s new Grand Rapids clinic offers great promise in diagnosing and treating cancer.
Individuals who buy their own health insurance would pay an average of 6.2 percent more for coverage next year under insurance carriers’ recent rate filings with state regulators.
New state law aims to boost competition for health insurance as large employers seek coverage for workers
Gov. Gretchen Whitmer has signed legislation that is designed to better enable large employers to bid out their employee health coverage.
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Here is the MiBiz Growth report for June 6, 2022:
Michigan’s two largest health insurers again seek to raise small business rates for 2023 as medical claims rise and pandemic-related costs are considered for the first time.
Legislation proposed in Congress would cap customers’ monthly out-of-pocket cost for insulin at $35, an idea President Joe Biden supported in his recent State of the Union address.
Costs to test, treat and vaccinate members for COVID-19 drove sharp earnings declines last year for Priority Health and Blue Cross Blue Shield of Michigan, and both intend to work ongoing pandemic-related expenses into their rate requests for next year.
Blue Cross Blue Shield spent $860M on COVID-related claims in 2021; future costs to be factored into rates
The high cost of medical claims tied to the COVID-19 pandemic drove Blue Cross Blue Shield of Michigan to a loss in 2021 on its core health insurance business.
The recent merger between Spectrum Health and Beaumont Health creates the potential for Priority Health to make deeper inroads in the Southeast Michigan health insurance market.
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The new health system that Spectrum Health and Beaumont Health plan to launch Tuesday will have considerable market clout in the Michigan health care market, raising concerns about the potential effect on costs.
Michigan now ranks as the second-least competitive market in the nation for health coverage, a status that stems from Blue Cross Blue Shield of Michigan’s long-held position as the leading insurer in the state.
Blue Cross Blue Shield of Michigan joined four other Blues plans across the U.S. to form a new venture that seeks to reduce the high cost of prescription drugs.
The lifting of Michigan’s in-person work restrictions is a light at the end of the tunnel for remote workers eager to get back to the office, while others are hoping flexible work settings will stick long term.
Small businesses can expect larger increases in their health insurance premiums in 2022 than in recent years, even without costs associated with responding to the COVID-19 pandemic figured into the equation.
A health plan that for years has provided coverage for employees at beer and wine wholesalers in Michigan now looks to offer the same benefits to craft brewers, distilleries and wineries across the state, providing a potential lower-cost option to consider.
Here's the MiBiz Growth Report for March 28, 2021.
Small business clients of Blue Cross Blue Shield of Michigan that renew their health policies in the second half of the year will see small rate increases of less than 2 percent.
The yearlong COVID-19 pandemic drove down earnings last year at West Michigan’s major health insurance providers.
In September, Dr. James Grant became chief medical director at Blue Cross Blue Shield of Michigan, making the transition during the COVID-19 pandemic that has elevated telehealth to the forefront in the industry. While a COVID-19 vaccine became available a week ago, starting with frontline health care workers and long-term care facilities, the pandemic will drive much of what happens in the health care industry in 2021, according to Grant.
As reports continue to rank Michigan as one of the least competitive markets in the nation, the statewide trade group representing HMOs wants to ensure that insurance carriers are able to pursue business when employers bid out employee health coverage.
Health insurance open enrollment for 2021 starts Nov. 1 with small increases in rates for individual and small employer health care policies.
Michigan ranked second-lowest in the nation for what employers and insurance carriers paid hospitals for care compared to payments hospitals received from Medicare from 2016 to 2018.
COVID-19 has hit the world hard, including the business landscape. Many companies are struggling under the strain the pandemic has put on our economy, from decreased spending to wide-scale shutdowns. In the face of this economic uncertainty, businesses of all sizes and their employees are facing tough choices when it comes to spending.
Health plans in Michigan should post strong earnings for 2020 despite poor results in the first quarter from investment losses after the onset of the COVID-19 pandemic.
Health insurers across Michigan have proposed small average rate adjustments for 2021 policy renewals for both small employers and individuals.