In MI., Blue Cross raising individual, group rates 22 pct.

Insurer originally sought 56 percent rate hike, but regulators refused

Michigan insurance regulators have approved a 22 percent increase for group and individual Blue Cross Blue Shield health policies in the state, according to reports published Thursday.

“Blue Cross officials have said they need rate increases to help cover $133 million in financial losses in 2008 on its individual health insurance policies,” [1] reported Crain’s Detroit Business.