DeWitt (WSYR-TV) - Excellus BlueCross BlueShield, the largest insurance company in Central New York, announced Monday health premiums would rise by an average of 8.8 percent in 2010.
The insurance company said the new rates that take effect on Jan. 1, 2010, are due to the increased amount of patients using health care services and the higher cost of care.
The company also cites a $65 million increase in New York State taxes on customers’ health plans.
The company says 89 percent of its premium revenue is spent on medical benefits, which BlueCross BlueShield said was above last year’s statewide average of 87 percent spent.
Central New Yorkers who are enrolled in community-rated coverage will see price increases between 10 and 16 percent.
The company says each employer group’s claims history experience will determine rate adjustments for experience-rated and self-funded plans.
NewsChannel 9’s Jennifer Lewke will have more on this tonight at 5:00 & 6:00. If you’re away from your TV, you can now watch all our newscasts live here on the website.
