Don’t look now, but we’re hearing rumblings that Anthem Blue Cross may be cancelling the health insurance premium increases which were slated to go into effect on May 1st. Anthem Blue Cross had originally announced that health insurance premiums would be increased as of March 1st, but due to consumer outrage and public outcry by both state and federal officials, Anthem Blue Cross agreed to delay the increases until May 1st.
Some 800,000 Anthem Blue Cross health insurance policyholders have been waiting to hear whether their premiums would be increasing by as much as 39%, as independent actuaries appointed by the California state insurance commissioner continue to pore over the proposed increases. Since the expected actuarial report has not been issued as of yet, it has been expected that Anthem Blue Cross would continue to delay the scheduled increases.
With news of Wellpoint (Anthem Blue Cross’ parent company) reporting a soaring 51% increase in first quarter profits despite the delays, officials in Washington have been calling on Wellpoint/Anthem Blue Cross to cancel the controversial health insurance rate hikes. It looks like they may get their wish.
We’ll be watching this closely to see if this news becomes official, but we all have out fingers crossed!
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