Blue Shield of California plans ginormous rate hikes

[marmar]

from the Los Angeles Times:



Another big California health insurer has stunned individual policyholders with huge rate increases — this time it's Blue Shield of California seeking cumulative hikes of as much as 59% for tens of thousands of customers March 1.

Blue Shield's action comes less than a year after Anthem Blue Cross tried and failed to raise rates as much as 39% for about 700,000 California customers.

San Francisco-based Blue Shield said the increases were the result of fast-rising healthcare costs and other expenses resulting from new healthcare laws.

"We raise rates only when absolutely necessary to pay the accelerating cost of medical care for our members," the nonprofit insurer told customers last month. ............(more)

The complete piece is at: http://www.latimes.com/health/healthcare/la-fi-insure-rates-20110106,0,6975599.story

[Canuckistanian]

1. Someone should investigate their "nonprofit" status

They don't seem to be any more cost-saving than the worst of the bloodsucking insurance companies.