California’s insurance commissioner is calling out Blue Shield of America for double-digit rate hikes against some policy holders. Commissioner Dave Jones is frustrated that there is nothing he can do to stop the rate increases. However, an initiative on the 2014 ballot may give the commissioner veto power. The premium increases are necessitated by rising costs of medical care, according to Blue Shield and other health plan providers that have passed increases to their members. ”Blue Shield has lost tens of millions of dollars in the individual market in recent years and we expect similar losses in 2013,” according to a report that recently appeared at www.nbc.losangeles.com.
Tuesday May 21st 2013