“Both the State of California through it’s Department of Insurance and the federal government have indicated that they would investigate the rate increases. In addition, the California Assembly’s health committee also will conduct a hearing. The California Insurance Commissioner, Steve Poizer, has called on Blue Cross to delay its increases until independent actuary reviews them. The company is reported to be cooperating with the State Insurance Department.
In Washington, Congress has opened an investigation and a subcommittee has scheduled a hearing this month.”
I suspect that the shareholders at Blue Cross want to see their company make record profits too. Further emboldened by the success of the healthcare industries’ puppy, the Tea Party, look for more of this sort of behavior from the nation’s health insurance giants.
Here’s the jump: Blue Cross says 39% rate increase for California individual health insurance policies is justified
