It’s one more small victory for those of us trying to keep our health insurance affordable, but it’s an important one for Aetna health insurance policyholders. After postponing its latest planned health insurance hikes for 60 days at the request of the California Insurance Commissioner, Aetna has agreed to reduce those health insurance hikes, a move which will save the 65,000 health insurance policyholders affected an estimated $6.7 million. California Insurance Commissioner Dave Jones’ office estimates that the 60-day delay has saved Aetna’s health insurance members an additional $1 million.
Aetna’s planned health insurance hikes will be reduced from an average of 17.9% to 12.2%, and will begin July 1st. “Long term, our financial viability in the individual health insurance market in California could be impacted by the inability to implement rates which adequately address the rising cost of healthcare services in the state,” the company said in a statement.
Two other health insurers have already had to back down from health insurance hikes this year. Under strong consumer and regulatory pressure, Anthem Blue Cross reduced planned health insurance premium increases for 600,000 health insurance members earlier this year. And Blue Shield of California was forced to cancel its latest proposed health insurance increases for individual health insurance policyholders altogether. It would have been the third such health insurance hike for since October. The three hikes combined would have raised rates by as much as 87 percent for some of its 200,000 policyholders, according to California’s Department of Insurance.
Are your health insurance premiums even remotely affordable anymore? Tell us about it!
- Aetna, Anthem Blue Cross and PacifiCare Agree to Delay Health Insurance Hikes
- Anthem Blue Cross Agrees to Reduce, Delay Health Insurance Hikes
- California Insurance Commission to Review New Health Insurance Hikes, Aetna, Anthem, Blue Shield and Health Net
- Blue Shield of California Backs Down, Cancels Health Insurance Rate Hike
- Anthem Blue Cross Proposes New Health Insurance Increases in California; New Health Insurance Hikes Would Average 14%