Independence Blue Cross; Revised Rates for its Nongroup and Community Group Security 65 Plans; Rate Filing
[35 Pa.B. 5743]
Independence Blue Cross has filed filing no. 10-P-05 for approval increased rates for its nongroup Security 65 program. The revised rates are to be effective on January 1, 2006, and reflect an increase of 11.4% for standardized benefit Plan C and 16.0% for standardized benefit Plan H over the currently approved rates. The monthly premiums for subscribers enrolling at first eligibility are as follows:
Current Rate Proposed Rate Plan C $84.80 $94.45 Plan H $141.45 $164.00
These rate adjustments will affect approximately 37,000 subscribers in this Commonwealth and will generate approximately $5.5 million in additional premium annually. No adjustment is requested for nongroup Security 65 standardized benefit Plans A and B.
Also included in the filing are reduced rates for insureds who choose to drop their prescription drug benefits. Plan H includes prescription drug benefits which the insured may eliminate from their coverage effective January 1, 2006, in exchange for a reduced premium rate. Rate reductions are filed for the company's Security 65 nongroup and community group programs and in both cases reflect a 42.8% rate reduction from the proposed January 1, 2006, rates. The proposed Plan H rates with and without Rx coverage are as follows:
Nongroup $164.00 $93.75 Community Group $141.45 $80.85
Unless formal administrative action is taken prior to December 27, 2005, the subject filing may be deemed approved by operation of law.
A copy of the filing is available on the Insurance Department's (Department) website at www.ins.state. pa.us. Under the Quick Links section, click on the link ''Rate Filings Published in the PA Bulletin.''
Copies of the filing are also available for public inspection, by appointment, during normal working hours at the Department's regional office in Harrisburg.
Interested parties are invited to submit written comments, suggestions or objections to Michael Gurgiolo, Insurance Department, Insurance Product Regulation and Market Enforcement, Room 1311, Strawberry Square, Harrisburg, PA 17120, firstname.lastname@example.org within 30days after publication of this notice in the Pennsylvania Bulletin.
M. DIANE KOKEN,
[Pa.B. Doc. No. 05-1925. Filed for public inspection October 14, 2005, 9:00 a.m.]
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Bulletin full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.