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Anthem Blue Cross submits revised rate hikes

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Newsjock Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 08:08 PM
Original message
Anthem Blue Cross submits revised rate hikes
Source: Sacramento Bee

Anthem Blue Cross submitted new rates with the Department of Insurance today, two months after the agency discovered numerous mathematical mistakes in the company's previous rate filings for 700,000 Californians who buy insurance on their own.

The new rates represent an average increase of 14 percent - a much more modest increase than the average 25 percent hike announced earlier this year, which included increases as high as 39 percent for some customers.

... The department released the rate filings of three insurers Wednesday and, of the three, Blue Cross filed for the lowest increase. Aetna filed for a 19 percent average rate hike, while Blue Shield filed for an 18 percent average hike.

Read more: http://www.sacbee.com/2010/06/30/2861330/anthem-blue-cr...
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sakabatou Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 08:10 PM
Response to Original message
1. And to them I still say, "Fuck you."
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NorthCarolina Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:47 PM
Response to Reply #1
4. Well, we're all stuck with them now. They ARE America's Health Care Plan. Oh Joy!
:eyes:
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ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 12:22 AM
Response to Reply #4
10. I got priced out of coverage on account of their tremendous IMHO
Edited on Thu Jul-01-10 12:24 AM by ShockediSay
premium increases as I got older.

Calif, I believe, exposed the OOPS I DID IT AGAIN,
mathematical errors, accidently on purpose, yielding
exhorbitant profits way beyond actual costs, IMHO.

I think CT is reopening the approved increase.
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NorthCarolina Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 09:39 AM
Response to Reply #10
13. The primary goal of an Insurance Company is to make money, and provide a high return for investors
That is ALL, end of story, period. Their goal is not to guarantee that you get all the medical care you need, and at a cost that you can afford. Their only goal is to be profitable, and if you start to become a drain on their funds, you will be dealt with accordingly. Hopefully the sham of health care insurance reform that completely sidestepped even a hint of discussion of a public option served as a HUGE wake up call for most of 'thinking' America, and a more liberal/progressive congress will be the end result of deserved public outrage against corporatist DLC New Dem types.
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 08:55 PM
Response to Original message
2. That's still way too HIGH, but I wonder what they would
have done had everyone not screamed so loud about the 39%? Betcha they would have just taken that extra $$ and smiled!
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KeepItReal Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:18 PM
Response to Original message
3. "The extraordinary greed of Anthem/WellPoint Blue Cross is a clear indication..."
From FEBRUARY:

"Health insurance giant Anthem Blue Cross said it was raising rates on thousands of individual policyholders in California because the cost of their medical care exceeded the premiums they paid last year.

At the same time, other parts of Anthem reaped a profit. A Times analysis of the company's regulatory filings shows that $525 million in Anthem's earnings in 2009 was shipped to its corporate parent WellPoint Inc. The analysis' findings were not disputed by Anthem.
Advertisement

Anthem Blue Cross has been so profitable that, since WellPoint acquired it in 2004, it has contributed more than $4.2 billion to the parent company's bottom line.

...

But some lawmakers say they are aghast. Former California Insurance Commissioner John Garamendi, now a Democratic congressman from Walnut Creek, said it was unconscionable for Anthem to impose steep premium hikes on individuals when the company as a whole was quite profitable.

"The extraordinary greed of Anthem/WellPoint Blue Cross is a clear indication that this company has put profit before people," said Garamendi, who as California insurance commissioner presided over the companies' merger. "People need to be able to get out of the shark pool with a public-option lifeboat."

http://articles.latimes.com/2010/feb/23/business/la-fi-...
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wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 09:51 PM
Response to Original message
5. well I know I'd lose some business if I raised my rates 14% in one year &
I just talked my landlady down from a 4% increase on my lease to 1.3%

So 14% is still absurdly high but I guess we "little people" will have to suck it up :puke:
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 11:14 PM
Response to Original message
6. 14% is still far too high....
The only reason they dropped it down to 14% from 39% was because they were in the spotlight over it.

Special place in hell for greedy fucks.
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Hugabear Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 11:20 PM
Response to Original message
7. The insurance industry is nothing more than legal organized crime
It's a racket. The insurance companies are not in business to provide charity. Their goal is to take as much of your money as possible and provide you with as little coverage in return as possible. The only difference between the Health Insurance companies and the Mafia is that Blue Cross doesn't have someone named Vinny going around with a baseball bat to collect your overdue premiums or deductibles.
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eridani Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 12:06 AM
Response to Reply #7
9. +1000
They add no value whatsoever. They are just thieves.
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HughMoran Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 11:37 PM
Response to Original message
8. What the fuck - do they think people print money in their garages?
Fuck them.
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PSPS Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 01:14 AM
Response to Original message
11. I think I'll send a letter to my clients declaring that I am giving myself a 14% raise this year.
Edited on Thu Jul-01-10 01:14 AM by PSPS
I'm sure they'll be delighted especially when I say that it was going to be 40% but I discovered a "mathematical error."
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ProudDad Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 01:51 AM
Response to Original message
12. Since when is 14 times the cost of living increase
Edited on Thu Jul-01-10 01:52 AM by ProudDad
a "modest" premium increase...

In what fucking universe??? :puke:
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 10:00 AM
Response to Original message
14. Well now, that's just so much better!
:banghead:
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