With May 1st looming, 800,000 Anthem Blue Cross health insurance policyholders in California still do not know their health insurance premiums will be going up as they are due to next month. Anthem Blue Cross had previously announced health insurance premium hikes of up to 39% for its California individual health insurance policyholders only to agree to delay the increases amid much public uproar and renewed inquiries by both state and federal officials.
An outside actuarial firm appointed by state Insurance Commissioner Steve Poizner is due to issue a report on the proposed health insurance premium increases in the next two weeks. However, state insurance law only requires that 70 cents out of every dollar of health insurance premium be spent on medical care, and it is likely that the proposed health insurance premium increases will pass actuarial muster.
However, as a practical matter, a spokesman for Wellpoint (Anthem Blue Cross’ parent company) admitted on Friday that Anthem Blue Cross would not be in a position to implement the proposed health insurance premium increases on May 1st even if given the go-ahead by state insurance officials. At the same time, Anthem Blue Cross and Wellpoint have no agreement with the California Insurance Commission to delay the health insurance increases past May 1st. Although some have speculated that Anthem Blue Cross may agree to further delays or agree to only increase the premiums between 10-15% through the end of the year, nothing has been announced so far.
We can only advise people to sit tight for now. We’ll be bring you the news as it’s announced on this one!
For more on related topics, visit us at MyHealthCafe.com.
Related posts:
- News: Anthem Blue Cross Intends to Go Ahead with Health Insurance Increases on May 1
- Anthem Blue Cross Update: Health Insurance Increases Delayed Until at Least May 1
- Everyone in the Pool: Congress Launches Investigation into Anthem Blue Cross Health Insurance Rate Increases
- Update: Department of Health and Human Services Inquiry on Anthem Blue Cross Rate Hikes
- Follow-Up: LA Times Column on Impact of Anthem Blue Cross Health Insurance Rate Increases
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