Regence BlueCross BlueShield of Oregon and Providence Health Plans have kept the Oregon Insurance Division busy as they recently pitched large increases to their health premium rates, according to an article at The Lund Report.
The OID approved a 12.2 percent rate hike for Providence Health Plans, which will affect roughly 23,000 people, effective Nov. 1. However, the original rate increase was 15.7 percent.
Regence is currently proposing a 9.6 percent raise in its rates, which would impact 53,000 Oregon residents starting in December. However, the OID has not yet approved the rate hike and asked for more details on the increased costs from Regence's five main provider networks: Providence Health & Services in Renton, Oregon Health & Science University in Portland, Legacy Health in Portland, Tuality Healthcare in Hillsboro and Adventist Health, which has two hospitals in the state but is based in Roseville, Calif., according to the report.
Regence officials have not shared that information and said the state government could review the information behind closed doors in order to avoid "competitive harm" with Regence and its current and future members, according to the report.
The OID approved a 12.2 percent rate hike for Providence Health Plans, which will affect roughly 23,000 people, effective Nov. 1. However, the original rate increase was 15.7 percent.
Regence is currently proposing a 9.6 percent raise in its rates, which would impact 53,000 Oregon residents starting in December. However, the OID has not yet approved the rate hike and asked for more details on the increased costs from Regence's five main provider networks: Providence Health & Services in Renton, Oregon Health & Science University in Portland, Legacy Health in Portland, Tuality Healthcare in Hillsboro and Adventist Health, which has two hospitals in the state but is based in Roseville, Calif., according to the report.
Regence officials have not shared that information and said the state government could review the information behind closed doors in order to avoid "competitive harm" with Regence and its current and future members, according to the report.
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