Health insurer Anthem Blue Cross will postpone its much-criticized plan to raise rates for some California residents who buy insurance on their own, after reaching a deal Saturday with state regulators.
Anthem’s planned rate hike, which the state estimates would affect about 700,000 customers, averaged 25% and would have been as high as 39% for some.
Anthem Blue Cross of California, based in Thousand Oaks, agreed to postpone the increase from March 1 until May 1 so California could have outside experts review the company’s complex and detailed plan filing, including data on the medical costs it expects to incur.
If the People in the USA would listen to some of the things Obama is trying to change there would be no increases from any insurance company.
I am absolutely amazed that prices continue to increase while the economy is stumbling. What are they thinking? (Or not?)