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.
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:
Blue Shield of California
Posted in California Insurance, Financial, Health Insurance
Tagged Anthem Blue Cross, Assurant, Assurant Health, Blue Shield Of California, California Health, California Insurance Commissioner, Effective Date, Fourth Quarter, Health Insurers, Insurance, Parent Company, Postponement, Press Release, Rate Hike, Rate Increase, Wellpoint