Anthem Blue Cross +13.7% Eff 9.01.10

[DS4]

As most of you remember, earlier this year in Calif., Anthem tried to impose a premium increase 3.01.10. The average was +25% to a max of 39%.
This was right when healthcare reform was on the one yard line and Obama was looking for a TD! Once the news of this "up to 39%" increase hit the media, Obama now had the momentum to score his touchdown.
Under pressure, Anthem rescinded the 3.01.10 premium increase.
Anthem retrenched, and has now refiled for 9.01.10. The average this time is 13.7% to a max of 15.3%.
Given the economy, even this increase will still be a tough sell to my clients.

 

[AllenChicago]

When Anthem Blue Cross of California first announced the request for up to 39% increase in April, it sure seemed to me that they wanted Obamacare passed. Well, they helped to nudge it over the finish line. Their reasoning and motivation still escapes me, but they certainly helped to seal the deal. No doubt about it.

BCBS of Illinois is increasing approximately 13% in a couple of days..on August 1st.

 

[moonlightandmargaritas]

Their reasoning and motivation still escapes me, but they certainly helped to seal the deal.

Man, you must be awfully naive.

They stand to pick up millions of new customers - paid for by a government subsidy.

If it's a mystery to you that government and big business - including health insurers - are in cahoots - I would recommend that you attempt to get a clue.

 

[Insuranceman]

You'll the 39% increase after the November elections.

 

[somarco]

Half the uninsured will go in Medicaid. As for the other 15 million or so uninsured, some will go to the Exchange, some not, but my money is on most paying the fine and telling Obamacrap where they can shove it.

The carriers really won't pick up that much new biz and what they get will be a money loser.

 

[AllenChicago]

Man, you must be awfully naive.

They stand to pick up millions of new customers - paid for by a government subsidy.

If it's a mystery to you that government and big business - including health insurers - are in cahoots - I would recommend that you attempt to get a clue.

Yes M&M, I am very naive because I believed what the AHIP (American Health Insurance Plan) and several health insurance executives were stating in public and also at a couple of insurance retreats with just us "insurance guys/gals" present.

So, you're saying that behind the scenes the health insurance industry wanted and encouraged the passage of ObamaCare, while publicly putting up a fight against it.

Are you sure? I'm naive enough to believe you too, M&M.
-Allen