Anthem Raising Rates in CA
- Thread starter ijerome
- Start date
- 2,908
LA Times Friday morning : Anthem/Wellpoint raising rates on individual polices 30-39% in CA. Not a misprint. State to call in an independent actuary to see if they are paying out in claims 70%. Full article on LA Times web site.
Maine denied Anthem a rate increase even though they could show the payout because the state decided that Wellpoint was making "enough" money as it is nationwide.
As I said then, this will snowball because it means that they must either leave the state or stick it even more to other states to subsidize Maine. I stand by that statement. And if it turns out that there is supporting data to go with Anthems request in CA but the state denies the full rate increase or most of it anyway, then it will snowball all the more.
As discussed, in my state (and soon to be nationwide) the whole business of showing payout ratios etc is just a crock now. The regulators just decide how much is enough. That, by the way, is exactly what both Obama and Hillary said they would do if they were elected. "We will just tell the insurance companies what the premiums might be." We are well on our way to that. My state has already arrived.
Now, the logical mind says "yeh, but what are we going to do when costs keeping rising but premiums don't." All the better for them the system collapses and plunge further toward single payer. We are right on schedule.
Obamacare is dead. Health "reform" is not. It is a steady march toward single payer. Bill on the anti-trust exemption coming up next week. It wont happen overnight but each six month period will show a "good" piece of progress toward that.
As I stated in earlier posts about this Anthem situation, "no love of Anthem is intended in my post." Nevertheless once the system is commied up for one, it is commied up for all.
- 500
Any chance the fix is in?
1.) Anthem wants the govt. to mandate that everyone has insurance
2.) Anthem raises rates through the roof just at the right time
3.) Govt. steps in and says, "see?, this is why we need to cover everyone"
4.) Govt. mandates that everyone has to have coverage = Anthem and others make more money!
I'm probably wrong...
1.) Anthem wants the govt. to mandate that everyone has insurance
2.) Anthem raises rates through the roof just at the right time
3.) Govt. steps in and says, "see?, this is why we need to cover everyone"
4.) Govt. mandates that everyone has to have coverage = Anthem and others make more money!
I'm probably wrong...
- 9,744
Has anybody seen "The Rabbi" lately? Whatever became of him? Back selling cars?
- 3,863
Is this referring to group or individual business? Is 70% CLR mandated?
treeves
Expert
Anthem just raised their rates in Indiana by 31-39%, although Anthem says it's not universal.
- 500
NEWS STATEMENT
CROSS HEALTH INSURANCE RATE HIKES ALARMING
Reminds Californians to Shop Around, Compare Health Insurance Options
California Insurance Commissioner Steve Poizner today issued the following statement regarding Anthem Blue Shield's rate increases:
"I'm alarmed by the Anthem Blue Cross health insurance rate hikes, especially in a time when the recession has forced so many people into the individual health insurance market," said Commissioner Poizner. "State law requires that insurers spend at least 70 cents of every dollar of premium on medical care. I have instructed my department to hire an outside actuary to examine their rates line by line to ensure they are complying with this state law. If we find that their rates are excessive, I will use the full power of my office to bring these rates down.
Commissioner Poizner also reminded Californians who have to purchase individual health insurance that there are dozens of insurance companies to choose from.
"Just like auto and homeowners insurance, consumers can choose from nearly 70 different companies who offer health insurance in the individual health insurance market," Commissioner Poizner said. "As a consumer you need to shop around. A different provider may prove to be a better value for a particular individual or family's needs, and all of them are looking for new customers. I encourage consumers who are not happy with their rates, co-pays, benefits or service to look at other options."
The Department of Insurance Web site has comprehensive lists of insurance companies that offer health insurance along with contact information. The information can be found at http://www.insurance.ca.gov/0100-consumers/hcpcarriers.cfm
In addition, the Department of Insurance launched last year the first ever PPO report card that gives consumers even more information about the quality of service each of the major health insurance company offers. The PPO report card can be found at http://interactive.web.insurance.ca.gov/ppo/front
Thanks Steve, I feel so much better now...sorry to have disturbed you during your political campaign
- 2,908
CA going to get some "help" before this is over.
Poll: Should California regulate the price of health insurance? | Opinion L.A. | Los Angeles Times
Poll: Should California regulate the price of health insurance? | Opinion L.A. | Los Angeles Times
