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Blue Shield of California seeks rate hikes up to 20%

By zzyzzx   Follow   Thu, 13 Dec 2012, 7:36am   687 views   10 comments
In Baltimore MD 21230   Watch (1)   Share   Quote   Permalink   Like (1)   Dislike (2)  

http://www.latimes.com/business/la-fi-blue-shield-rates-20121213,0,6546740.story

In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers.

In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers, effective in March, with a maximum increase of 20%.

The company also expects higher costs from an influx of new customers under the federal healthcare law in 2014.

Even with these proposed rate increases, Blue Shield said, it expects to lose money in the individual insurance market in 2013.

The insurer said its medical costs for this segment of the business grew 10.6% and what it actually pays is rising 12.5% after adjusting for its portion after customer deductibles. The state's largest for-profit health insurer, Anthem Blue Cross, cited a similar jump in medical costs in seeking rate hikes as high as 25% for some individual policyholders, effective in February.

The Kaiser health plan is seeking to raise rates an average of 9% for 220,000 individual policyholders and dependents next month.

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1. Homeboy Follow Befriend 17 threads 1,613 comments

   1   11:48pm Thu 13 Dec 2012   Share   Quote   Permalink   Like   Dislike   Sorry to break up your conjecture with actual facts, but according to the Kaiser Family Foundation, increases in health insurance premiums are at HISTORIC LOWS. http://www.kff.org/insurance/ehbs091112nr.cfm

2. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

   2   6:27am Fri 14 Dec 2012   Share   Quote   Permalink   Like   Dislike (2)   Homeboy says Family Foundation, increases in health insurance premiums are at HISTORIC LOWS. I bet you say that to all of the Hot republican women.

3. Call it Crazy Follow Befriend 250 threads 2,915 comments

   3   6:49am Fri 14 Dec 2012   Share   Quote   Permalink   Like   Dislike (2)   Homeboy says Sorry to break up your conjecture with actual facts, but according to the Kaiser Family Foundation, increases in health insurance premiums are at HISTORIC LOWS. http://www.kff.org/insurance/ehbs091112nr.cfm It's so nice of you to take things out of content. Here is a direct quote from your link: ...."This year’s premium increase is moderate by historical standards, but outpaced the growth in workers’ wages (1.7 percent) and general inflation (2.3 percent). Since 2002, premiums have increased 97 percent, three times as fast as wages (33 percent) and inflation (28 percent)." Here's a chart from Kaiser.....

4. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

   4   7:14am Fri 14 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike (2)   Homeboy says Sorry to break up your conjecture with actual facts, but according to the Kaiser Family Foundation, increases in health insurance premiums are at HISTORIC LOWS. http://www.kff.org/insurance/ehbs091112nr.cfm This is EXACTLY why I yawn every time a Liberal posts something about some travesty in their mind that the Republicans committed, and then their endless rant calling them liars.

5. Homeboy Follow Befriend 17 threads 1,613 comments

   5   11:38am Fri 14 Dec 2012   Share   Quote   Permalink   Like   Dislike   Call it Crazy says It's so nice of you to take things out of content. Here is a direct quote from your link: ...."This year’s premium increase is moderate by historical standards, but outpaced the growth in workers’ wages (1.7 percent) and general inflation (2.3 percent). Since 2002, premiums have increased 97 percent, three times as fast as wages (33 percent) and inflation (28 percent)." How is that out of context? I said increases are at historic lows. I didn't say rates went down. Do try to read, please. Your quote says "moderate by historical standards". The increase in insurance premiums is at its lowest now. That is an improvement over what we had before. Sorry, did you want to go back to the system where your rates were going up MORE? Why?

6. Homeboy Follow Befriend 17 threads 1,613 comments

   6   11:44am Fri 14 Dec 2012   Share   Quote   Permalink   Like   Dislike   You do know the individual mandate hasn't gone into effect yet, right? So this is what's going on with millions of people still not paying into the system, and it has ALREADY improved the efficiency of the insurance companies.

7. Bellingham Bill Follow Befriend 31 threads 1,534 comments Bellingham, WA Premium

   7   12:47pm Fri 14 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike (2)   Protected   The stupid thing is that once PPACA's subsidies kick in next year, a family of 4 making $60,000 will pay $5000/yr for health insurance and Obama's campaign promise will come true. Taxpayers will pay a $7000 subsidy to that family. (!) Now, it remains to be seen who is actually paying this subsidy. If it's just that same family of 4, then of course there are no savings. But if it's the 5%, then great, I guess. Since the 5% have so much power in our system, if they want lower taxes they should work for more efficient health care delivery, like what all other first-world countries do. For 2010, the 5% income started at $160,000 per year. http://taxfoundation.org/article/summary-latest-federal-income-tax-data-2012

8. Homeboy Follow Befriend 17 threads 1,613 comments

   8   12:06am Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   Bellingham Bill says The stupid thing is that once PPACA's subsidies kick in next year, a family of 4 making $60,000 will pay $5000/yr for health insurance and Obama's campaign promise will come true. I think it's closer to $5700. Why is it stupid?

9. Homeboy Follow Befriend 17 threads 1,613 comments

   9   12:22am Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   Bellingham Bill says Taxpayers will pay a $7000 subsidy to that family. (!) Where are you getting that figure? This article says the average contribution of a family of 4 with employer-sponsored health insurance is between $3,926 (smaller company) and $5,134 (larger company). So in fact, if they make $60K, their payments wouldn't be subsidized at all, since it would already fall below 9.5% of their income. http://www.ama-assn.org/amednews/2012/09/24/bisb0924.htm

10. Homeboy Follow Befriend 17 threads 1,613 comments

    10   12:28am Sat 15 Dec 2012   Share   Quote   Permalink   Like   Dislike   And for the self-insured, this article cites an average premium of $7,102 in 2010, so they would be subsidized to the tune of $1400 - probably a bit more now in 2012. Still nowhere close to a $7000 subsidy. http://www.inquisitr.com/212995/health-care-costs-for-family-of-4-to-reach-20000-this-year/