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Article: Medex hike is likely to go up State told to rethink Blue Cross request
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- June 29, 1995
- Author:
CopyrightCopyright 1995 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Blue Cross and Blue Shield of Massachusetts yesterday won a key
victory in its quest for higher rates for its Medex Gold insurance
product for senior citizens.
Finding in favor of Blue Cross, the state Supreme Judicial Court
struck down a decision by the state's insurance commissioner to limit
Medex Gold rate increases in 1995 to 4.1 percent. Blue Cross has
maintained that the low rate increase led to a $17 million loss from
Medex in the first quarter this year.
Though good news for Blue Cross, the decision is seen by advocates
as a setback for seniors.
"This is potentially very bad for seniors," said Manny Weiner,
legislative director for the Massachusetts Senior Action Council.
"Chances ...