GRAND RAPIDS — Spectrum Health has committed $7.5 million to a new Chicago-based venture capital fund that backs emerging heath care technologies.
Rates that Blue Cross Blue Shield of Michigan charges small businesses for employee health coverage would increase modestly and in some cases decline for policies renewed in the second half of 2018.
Blue Cross Blue Shield of Michigan and Priority Health remain committed to selling individual health policies on the state’s public insurance exchange, even as a chief competitor opts to drop out of the market for next year.
The losses health insurers in Michigan incurred last year on individual policies led to the large rate increases proposed for 2018 and moved the market to a “very delicate point,” according to one industry analyst.
Blue Cross Blue Shield of Michigan attributes a “modest” $68 million loss for 2015 to one-time charges to settle litigation and losses in its heavily-subsidized Medigap supplemental policies for Medicare recipients.