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Big jump in Blue Cross premiums sparks outrage

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Auggie Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 11:21 AM
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Big jump in Blue Cross premiums sparks outrage
S.F. Chronicle, 2-11-2009:

Anthem Blue Cross, which plans to raise premiums for about four-fifths of the health insurer's individual policyholders effective March 1, has outraged members, many of whom have been hit with price increases of more than 30 percent.

San Francisco resident and cafe owner Jesse Fink, who has had Blue Cross coverage for at least 30 years, has gotten used to regular premium increases. But he wasn't prepared for a letter telling him the cost to cover himself and his family would jump by 31 percent on March 1.

"How could they just charge a 31 percent increase?" said Fink, 55, who already has raised his annual deductibles from $2,500 to $5,000 per family member. He said his 23-year-old son, who is on a separate policy, got a 40 percent increase."This is pushing the need for health care reform," he said. "When someone gets, God forbid, cancer or something, are we supposed to go broke?"

Anthem Blue Cross, formerly Blue Cross of California, covers about 800,000 individual policyholders in California, more individual members than any other insurer in the state. Individual policies are typically purchased by people who do not have access to a group policy through an employer. Anthem officials confirmed the company will raise rates March 1 for about 80 percent of its individual members.

LINK: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/11/BU2F15I06K.DTL&tsp=1



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kickysnana Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 11:26 AM
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1. Affordable insurance depends on making money in investments.
All investments are losing money.
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shraby Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 12:37 PM
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2. Not only are they losing money on investments,
more and more people are losing their jobs and have to drop coverage so Blue Cross is losing that income too, therefore raising the rates on those who still have their policies. Time for this country to switch to single payer insurance managed by Uncle Sam.
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rucky Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-11-09 12:39 PM
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3. The didn't lower premiums when the Dow was at 14K.
It's been going up every year - beyond inflation and independent of other economic indicators.
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