California’s insurance commissioner is raking Anthem Blue Cross over the coals for its 5.2 percent hike in insurance rates for small businesses, effective Monday, pushing up rates on those customers 10.5 percent in the past year. Dave Jones calls the hikes “excessive and unreasonable” and “simply galling.” Anthem, he says, is exaggerating its health care inflation forecast, and folding in costs that it doesn’t have to pay until next year. The company denies it.
Jones can’t do anything about price hikes other than jawbone, so why the fuss? A measure, with Jones’ backing, giving the insurance commissioner authority to roll back rates he deems excessive has qualified for the November 2014 ballot. Sacramento Bee writes about it (behind a pay wall).
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