Highmark seeking premium increases

Highmark Inc. told officials from the state Insurance Department yesterday that it needs to raise premiums for members of its Preferred Benefits Plan and one of its Security 65 Medigap supplements.

At a hearing Downtown, the insurer sought permission to raise rates for the standard version of the Preferred benefits plan by roughly 20 percent, to $643 monthly for individuals and $1,357 for families.

The plan, which is known as coverage "of last resort" because it doesn't bar people with existing health problems, has 7,514 members.

Highmark also asked for a 7.4 percent rate increase for its Security 65, Plan E coverage. That would boost monthly premiums for 1,993 elderly or disabled Medicare beneficiaries to $122.

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