Friday, February 26, 2010

Does this make sense?

Anthem Blue Shield has been in the news a lot lately. Almost none of it good because they have decided that they need to raise their rates on their individual insurance policies. The rates, by the way for individuals, are going up about 39% according to the reports I've been reading.

Today, it was confirmed that for small businesses, the rates are going up at an even higher rate. In some cases, a whopping 76%.

Anthem Blue Shield's press flack tried to justify the rate hikes in a statement where he said,
"We lose membership because fewer people can afford to get it,... It does not help us. We only do it to be able to collect enough money to pay out."


Colby said...

Amen. Anthem Blue Cross is one I spoke with directly who denied my mother. So, they raise costs in order to be able to pay out - but they only insure people who don't need pay outs. Love it!

Leonardo said...

Anthem's plan is to price out the individual policy holder. With companies required to offer healthcare for their employees, they must pay the increased premiums and pass the cost increases to their customers. A vicious cycle.

Leonardo said...

I don't know if you had an opportunity to watch Bill Moyers Journal Friday night, if not, it will explain, in detail what is taking place within the health care industry.