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Blue Shield's cumulative rate hikes could reach 86.5%
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| Parent(s) |
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| Contributor | RP |
| Last Edited | RP Mar 15, 2011 01:48pm |
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| Category | Analysis |
| Author | Duke Helfand |
| Media | Newspaper - Los Angeles Times |
| News Date | Saturday, March 12, 2011 07:00:00 PM UTC0:0 |
| Description | Higher insurance premiums sought by Blue Shield of California in recent months would drive total increases as high as 86.5% for thousands of individual policyholders, new documents show.
The higher cumulative increases, once thought to be as much as 59%, were reported to Insurance Commissioner Dave Jones this week as part of Blue Shield's explanation of its plans to raise rates in May.
Blue Shield already increased rates in October and January. If its third planned increase is allowed to take effect May 1, as expected, the San Francisco nonprofit said, 45,500 customers out of 193,800 will face cumulative hikes of 50% or more. Nine hundred will see their bills rise 80% or more. |
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