Congress passed a bill scaling back flood insurance premium increases, allowing below-market insurance rates to be passed on to people buying homes.
One of California’s biggest health insurers said Tuesday it will cap its earnings at 2 percent of revenue and return amounts over that level to its customers, care providers and the community.
The California Department of Managed Health Care says health insurance rate hikes slated to go into effect Sunday are unreasonable, but the regulator has no power to stop them.
Anthem Blue Cross, the largest health plan in California, is reducing and delaying rate hikes — moves the state insurance commissioner says will save policyholders at least $40 million.
Blue Shield of California is seeking another round of rate hikes that would mean a cumulative increase averaging over 30 percent over a five-month span for nearly 200,000 policy holders, reports Wednesday said.