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California insurance commissioner calls Anthem Blue Cross rate hike 'excessive'
http://www.mcclatchydc.com/2013/01/09/179386/california-insurance-commissioner.htmlCalifornia insurance commissioner calls Anthem Blue Cross rate hike 'excessive'
Mark Glover | The Sacramento Bee
Posted on Wednesday, January 9, 2013
SACRAMENTO, Calif. — Making his case yet again for regulatory authority to reject "excessive" rates, California Insurance Commissioner Dave Jones on Tuesday singled out Anthem Blue Cross Life and Health Insurance Co. for slapping "unreasonable" rate increases on more than 250,000 small-business policyholders.
Anthem fired back, saying the insurance commissioner's math and methodology were flawed.
It was the latest skirmish amid a national battle as health insurance companies seek double-digit percentage rate increases, citing increasing costs even as they scramble to come to terms with the federal Affordable Care Act. In return, consumer advocates contend insurers are raking in large profits.
During his Tuesday press conference, Jones said Anthem small-business policyholders in California will see an average annual increase of 10.6 percent under a rate that went into effect Jan. 1. Over two years, Jones said, the average increase will be 19.5 percent.
