Anthem Blue Cross Withdrawals Rate Hike In California
Anthem Blue Cross of California has decided to withdrawal it’s highly controversial rate increase amid errors found in a independent review. Anthem has stated that it will file a new application for increase with the California Insurance Commissioner.
This mostly goes out to my California clients, but anyone can comment. What are your thoughts on Anthem Blue Cross of California’s proposed rate hikes? Do you think they are justified with the cost of claims, or do you think they are unsubstantiated? Do we have all the facts in order to make that call?
My personal belief is that we don’t have all the facts, and that it is a little bit of Anthem’s fault, as well as the rising costs of healthcare.
I know this will open up a Pandora’s box, all I ask that in your comments you keep it polite and respectful no matter what side of the fence is on. By the way this is how positive change happens.
If you are a current Anthem Blue Cross of California member, are you going to stick around? Are you checking out other carriers like, Blue Shield of California, and Assurant Health?
Anthem Blue Cross in California is raising rates up to 39%. California Insurance Commissioner is calling for the postponement from an effective date of 3/1 to 5/1 so that his office can review the rate increase. You can see the whole press release from the insurance commissioner here. Additionally the Obama administration has expressed concern over this as well. One of the problems with this rate hike is that Anthem Blue Cross’s parent company is Wellpoint. Wellpoint made a significant profit in the fourth quarter of 2009. If you currently have Anthem Blue Cross in California, several of my clients have been looking at the rates of other California health insurers. Below are a couple: