LANSING (AP) -- Blue Cross Blue Shield of Michigan is requesting rate increases on its health insurance plans in the individual market.
The rate increase requests were formally filed with state officials Friday. The company earlier this month had announced its intentions to request the higher rates.
About 400,000 people who buy their own health coverage through Blue Cross would be affected by the rate increases if approved. The rate request does not involve Blue Cross plans that are handled through employers.
The requested average rate increases are 56 percent for individual plans, 42 percent for group conversion plans and 31 percent for Medicare supplemental plans.
Blue Cross says it is losing money on its individual plans and wants changes made to state law.
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