Rss Feed
Tweeter button
Facebook button

Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike

Below is an article titled Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike that we collected from various sources. All credit goes to its original author.

Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike


By Mina Kim

State Insurance Commissioner Dave Jones says Anthem Blue Cross’s rate hike on small business plans is “unreasonable” … but he’s powerless to stop it. .

Jones says his department actuaries calculated Anthem’s average 11 percent rate hike on small employers would grow to nearly twenty percent in two years. On a call with reporters Tuesday, Jones blasted the insurer for overstating health care costs and for charging policy holders fees that won’t be collected until 2014 under the Affordable Care Act.

“If you look at, on a return-on-equity basis,” Jones said, “the profits that Anthem Blue Cross of California has made, they have been extraordinary.”

Anthem Blue Cross spokesman Darrel Ng disputes Jones’s figures saying the average rate increase is about half what Jones projects and that Anthem’s profits last year, were about one percent.

“It is unfortunate that rates have to go up, but they reflect our underlying costs and the fact that people are using health care more,” Ng said.

State regulators have no power to stop what they declare to be excessive rates. Jones is backing a November 2014 ballot measure that would change that and give his office the authority to reject rate hikes or demand rollbacks.

Related posts:

  1. Insurance Commissioner Calls Aetna Rate Hike “Unreasonable”
  2. Proposed Ballot Measure Seeks Tougher Health Insurance Rate Regulation
  3. Health Insurance Public Option Alive and Well in California
  4. Blue Shield CEO: Challenge, Opportunity in 2013 and Beyond
  5. Health Insurance Executive Is Longtime Backer of Universal Coverage

Article source: http://blogs.kqed.org/stateofhealth/2013/01/09/insurance-commissioner-criticizes-anthem-blue-cross-rate-hike/?utm_source=rss&utm_medium=rss&utm_campaign=insurance-commissioner-criticizes-anthem-blue-cross-rate-hike

Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike

We also give some image about Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike hope you like this, we got this images from arround the web using this related keywords insurance commissioner of texas, insurance commissioner, insurance commissioner ca, insurance commissioner of ga, insurance commissioner ct, insurance commissioner oklahoma, insurance commissioner fl, insurance commissioner of pa, insurance commissioner illinois, insurance commissioner ohio, Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike .

Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike related images

calif insurance commissioner criticizes anthem blue cross rate Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike 370x278
calif insurance commissioner criticizes anthem blue cross rate image by sanfrancisco.cbslocal.com
california insurance commissioner criticizes anthem blue cross Insurance Commissioner Criticizes Anthem Blue Cross Rate Hike 480x360
california insurance commissioner criticizes anthem blue cross image by article.wn.com

Speak Your Mind

*

CommentLuv badge