LANSING, MICH.
A fund created through the restructuring of Michigan’s largest health insurer will spend $44 million next year to begin partially offsetting a spike in the cost of supplemental insurance that covers Medicare recipients’ coinsurance and deductibles.
The Michigan Health Endowment Fund’s initial contribution — which will dampen the impact of Blue Cross Blue Shield ending a five-year rate freeze on its Medigap policies— is more than a third of the $120 million it must spend through 2021.
The fund is frontloading the aid to try to effectively cut the premium hike in half. Blue Cross has estimated that seniors in its most popular Medigap plan in southeastern Michigan will see rate increases ranging from $48 a month to $177 per month.
“The most vulnerable seniors are going to get this help,” the fund’s CEO, Paul Hillegonds, said in an interview.
Enrollment runs through Dec. 15. That is the window to get the full subsidy for 2017. Residents will have to re-apply each year. For the full article click here
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