Determining insurance rates
How are rates set?
Blue Care Network provides high-quality care and service at competitive rates. We determine premium rates using a community rating by class methodology. A community rate is set for each specific medical and drug benefit, with potential adjustments for:
- Geographical area
- Average age
- Industry classification
- Gender (where allowed by legislation)
- Number of enrolled subscribers
For example, a single subscriber rate might be adjusted as follows:
Single monthly rate for geographical area X for benefit plan Y |
$350 |
Age adjustment |
- $25 |
Industry classification adjustment |
+ $15 |
Adjustment for number of subscribers |
$0 |
Adjusted single rate |
$340 |
These adjustments allow BCN to more accurately rate groups based on expected utilization and costs.
To learn more about BCN's competitive rates, contact your Blue Cross Blue Shield of Michigan sales representative or your independent agent.
page modified 04/23/2008