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Anthem Blue Cross, other health insurers plotting double-digit rate hikes

Friday, November 30, 2012

Here we go again? Only this time critics are calling it a last-phase effort to pad profits before Obamacare clicks in, in earest, in 2014. Among the insurers, Anthem Blue Cross, the state’s largest for-profit issuer, wants to raise rates up to 25 percent in February for three quarters of a million of its California insureds. UnitedHealth Group is looking for a 10 percent hike in January.

The Chronicle says California Insurance Commissioner Dave Jones plans to review the rate requests carefully, while quoting him as saying there’s nothing legally to stop the companies from jacking up rates. He didn’t address political pushback, which has in the recent past at least tempered the companies’ rate hikes somewhat.
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