Blue Shield: Review Supports Health Insurance Rate Hike
CBS Los Angeles (con't)
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LOS ANGELES (AP) — Blue Shield of California says an independent review has found that its most recent rate hikes on health insurance policies are not excessive and meet state and federal requirements.
But California Insurance Commissioner Dave Jones says the review doesn’t provide all the information requested by the state regulator.
The San Francisco-based insurer will still delay its March 1 rate hike for 60 days, until May 1, pending action from the commissioner.
It will be the third such rate hike for 200,000 Blue Shield individual policyholders since Oct. 1.
On average, the three increases will boost premiums by 30 percent, with some customers paying as much as 59 percent more for health insurance.
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