(CA) Insurance co's get OK for rate hikes: anthem/bc/wellpoint to 20%, blue shield 29%

[Hannah Bell]

WellPoint's Anthem Blue Cross got the go-ahead from California insurance regulators to raise rates an average of 14 percent--and as high as 20 percent for individual health policies--starting Oct. 1, Reuters reports.

After Anthem Blue Cross was shot down in February for asking for rate hikes that would have averaged 25 percent--and gone as high as 39 percent--for 600,000 policyholders, the insurer drew the ire of federal officials and lawmakers who pointed to it as a prime example of why healthcare costs were skyrocketing. After a consultant for the state's regulators found math errors in the payer's filing, Anthem was sent back to the drawing board.

This time around, the regulators approved the hikes because at least 70 percent of premiums will go toward payment for medical care, NPR reports. The six-month delay saved policyholders $184 million, state regulators said. Anthem claimed the amount saved was $150 million.

Blue Shield of California, one of Anthem's nonprofit competitors, was also allowed to hike rates at an average of 19 percent--and as high as 29 percent--for 250,000 policyholders.


Read more: Anthem Blue Cross gets OK for lower rate hikes - FierceHealthPayer http://www.fiercehealthpayer.com/story/anthem-blue-cross-gets-ok-lower-rate-hikes/2010-08-26#ixzz0zs9Y7bGb


Looks like most of the healthcorps are asking for large increases in most states. See the links to articles at the bottom of the page

http://www.fiercehealthpayer.com/story/revised-wellpoint-aetna-rate-hike-requests-under-heavy-scrutiny/2010-07-01

[Vinca]

1. Big insurance is on a mission to raise rates as high as possible

before subsidies kick in. Their profits will be heading toward the stratosphere. Congress needs to go back to the drawing board. Fast.

[xchrom]

2. Recommend

[Lost4words]

3. sure glad we got that great HCR, ... to protect the ins industry

thanks president jive talking honkey!

[golddigger]

4. Time for another strongly worded letter.

[blindpig]

5. Who would have suspected such a thing could happen?

Lots of people.

What a racket.

[Starry Messenger]

6. Inconcievable!

[maryf]

7. Hope for more than change...

Lots of bucks for the profiteers...wish I could be surprised. K&R

[QC]

8. Hopetastic! n/t

[maryf]

9. kicknt

[TBF]

10. KR nt

[BzaDem]

11. Of course, the initial proposal was higher, and the initial proposal came BEFORE HCR.

But that won't stop the narrative that HCR IS RAISING RATES

[kenny blankenship]

12. That's change they can take to the bank