Wednesday, February 10, 2010

Anthem Blue Cross and Blue Shield of California -UP YOURS to 800,000 policyholders

The Los Angeles Times reported that effective on March 1st, Anthem Blue Cross and Blue Shield of California, the largest for-profit insurance carrier in the state, announced that many of its 800,000 individual health policyholders are going to receive a premium increase between 30% and 39%. If that wasn't enough bad news for Californians, the insurer will also "adjust rates more frequently" than on an annual basis.

Henry Waxman, the Democratic chairman of the House Committee on Energy and Commerce and Subcommittee on Oversight and Investigations Chairman Bart Stupak (D-Michigan) have requested for Angela F. Braly, chief executive of Blue Cross parent company WellPoint, to testify before the subcommittee on February 24 to justify the insurers reasons for the sizable rate increase proposed.

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