Blue Shield of Calif. to proceed with rate hikes despite calls from government regulators to delay

[Amerigo Vespucci]

Blue Shield of Calif. to proceed with rate hikes

By MARCUS WOHLSEN, Associated Press Marcus Wohlsen, Associated Press – Sat Jan 15, 12:43 am ET

SAN FRANCISCO – Blue Shield of California said Friday it was planning to go forward with scheduled health insurance rate increases for individual policyholders, despite calls from government regulators to delay the move.

The San Francisco-based insurer said that it has asked an independent actuary to review the increases and would issue refunds if problems were found with the rates.

California Insurance Commissioner Dave Jones had asked Blue Shield to delay planned increases on March 1 so his department could conduct a full review.

The insurer has implemented two rate hikes since Oct. 1. Some policyholders would pay 59 percent more in premiums cumulatively over the three increases.

http://news.yahoo.com/s/ap/20110115/ap_on_bi_ge/us_health_insurance_hikes