Anthem Blue Cross Temporarily Suspends 39% Health Insurance Increase
Recently, health insurance Anthem Blue Cross announced that it would increase health insurance rates to as high as 39 percent or maybe more; however, the insurer decided to temporarily suspend its rate hike. While some customers of the insurer may be rejoicing in the break they’ll be receiving in costs, Consumer Watchdog is urging California Legislators to ignore the suspension and push to regulate premium increases.
About Health Insurance Increases
A new press release from Consumer Watchdog revealed that Anthem Blue Cross’ decision to suspend will help save customers from a 39 percent health insurance rate hike – for now. However, other insurers also plan to increase their rates.
So far, Blue Shield of California and PacifiCare have already announced similar increases for their customers. That along with the fact that Anthem has increased in previous years by double digits means that the increase could be reinstated at any point. Because of this, Consumer Watchdog says it’s time to act now.
Consumer Watchdog Pushes for Health Insurance Regulation
Despite Anthem Blue Cross’ decision to temporarily suspend the health insurance rate hike, Consumer Watchdog has decided to continue to push to regulate health insurance companies. As you may know, there are no anti-trust laws to govern health insurance companies. This means, companies can charge what they like.
Consumer Watchdog is trying to change this in the state of California by asking legislature to step in and require all California health insurance to ask for permission from the Insurance Commission before they can increase their rates. The organization was successful in pioneering auto insurance premium regulation and hopes to regulate premium increases in health insurance the same way.
Right now, there is no word on whether Consumer Watchdog’s plea to regulate health insurance will be successful. However, the organization hopes its push will make a difference for customers throughout the state.
Do you support Consumer Watchdog’s push to regulate Anthem and other California insurers?