Anthem (continued) The Real Fight Begins

[JMO Fan]

I presume the California Insurance Dept approved the rate hikes.

We're getting Federal regulation via HHS without enabling legislation?

I wonder how Arnold & Poizner feel about this. Poizner urges Anthem Blue Cross to delay increases pending inquiry - Sacramento Business, Housing Market News | Sacramento Bee

 

[somarco]

Read something that indicates rate increases in CA do not require DOI approval. Can't find it now and even if I did can't say if it is accurate or not.

Good catch on the HHS intervention. Of course this administration seems to play loosey goosey with the rules and the Constitution.

 

[moonlightandmargaritas]

Read something that indicates rate increases in CA do not require DOI approval.

Correct, I saw it too - as long as they maintain a 70% loss ratio.

 

[Dave020]

 

[Winter_123]

Here in a nutshell we have all the previously discussed factors at play.

You notice the shift where the state is just ignoring claims loss ratio data and just making decisions based on whether they think a carrier "needs" to be making any more money, even if it is taking a loss in the state at hand.

I don't how long a scenario like this can be maintained without something popping. Such as the carrier bailing out. I don't know. You tell me.

Coming to your neighborhood soon.

amednews: Anthem requests rate hike in Maine :: Jan. 25, 2010 ... American Medical News
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Expect commissions to get some attention before this is all over. It just goes with the turf and was coming sooner or later. It is getting to be sooner. Sebelius is asking for more info about "administrative costs." And she is doing this in what capacity since health insurance is still regulated at the state level? Nevermind.

WellPoint Division Investigated Over Insurance Rate Hike - WSJ.com