59% increase in health insurance costs

YouTube video

http://www.latimes.com/health/healthcare/la-fi-insure-rates-20110106,0,6975599.story

Another big California health insurer has stunned individual policyholders with huge rate increases — this time it's Blue Shield of California seeking cumulative hikes of as much as 59% for tens of thousands of customers March 1.

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In all, Blue Shield said, 193,000 policyholders would see increases averaging 30% to 35%, the result of three separate rate hikes since October.

Nearly 1 in 4 of the affected customers will see cumulative increases of more than 50% over five months.

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Michael Fraser, a Blue Shield policyholder from San Diego, learned recently that his monthly bill would climb 59%, to $431 from $271.

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Jones [Insurance Commisioner] said the Blue Shield move underscored the need for the Legislature to give the insurance commissioner legal authority to regulate insurance rates the same way he does automobile coverage.

At present, the commissioner can block increases only if insurers spend less than 70% of premium income on claims. Jones' office said Blue Shield's March 1 increase was under review.

"Blue Shield's increases pose the same problem posed by Anthem Blue Cross last year and other health insurers as well," Jones said in an interview. "My hope would be that Blue Shield would reexamine these rate hikes, particularly in the face of the impact they are having on individual policyholders."

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"It's unfortunate that they all came in a five-month period," Epstein [Blue Shield spokesman] said. "Rates are going to continue to rise unless the cost of medical care is brought under control. We need to reduce what we pay to hospitals, medical groups and pharmaceutical companies."

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so, this will be very interesting to see play out. I have to say, I share the cynicism of TYT, but it does appear these types of abuses are somewhat protected against (the 70% clause).

then again, if there is one thing corporations can do, its cook books.

It's exactly what Cenk predicted when Obama's health care "reform" passed.

I actually only just started tuning into them again 🙂

Originally posted by inimalist
I actually only just started tuning into them again 🙂

Oh lol, I didn't watch the video, just read the article you posted 😐

Originally posted by Bardock42
Oh lol, I didn't watch the video, just read the article you posted 😐

lol

it is interesting though. As a person who gets to watch this from a nation with public health insurance, the entire health system issue has seemed so farcical.

I mean, I suppose I was happy when they got a new healthcare package, but wtf? Blue Shield is trying to raise rates higher than before the legislation passed. what exactly was the bill supposed to do?

The US seems to have serious problems getting a decent health service going, wtf I thought it was an advanced nation. Most European nations had this one worked out yonks ago.

59% rise for anything is rediculous.

Originally posted by Bardock42
It's exactly what Cenk predicted when Obama's health care "reform" passed.

Can you point out to us why he thought that would be the case and how it is that it has now happened?

We need to fundamentally alter how we view health insurance for things to start working again.

Originally posted by Zeal Ex Nihilo
We need to fundamentally alter how we view health insurance for things to start working again.

As you said in another thread, that seems unlikely given the engrained nature of the lobbyists-for-influence system we have in place these days.

Let's also not forget that an Eisenhower republican took a lot of queue from a socialist democrat like Roosevelt. That's just what happens when there is a hugely successful and popular president like Roosevelt that is closely followed by a President like Eisenhower. The name of the political game by that time was national sacrifice. Do you think those days, those expectations, are too far gone? Maybe the Reagan era ruined that particular mindset for the people of this country.

Originally posted by skekUng
Can you point out to us why he thought that would be the case and how it is that it has now happened?

Well, I can summarize what he said, I haven't read the bill though, so I can't vouch for it (though that it is happening seems to point in the direction). Anyways, he said something like that the Health Care bill is actually a way back in one fundamental way, that apparently people are required (at threat of a fine, supposedly) to choose a health care provider, and that there is absolutely nothing in the bill stopping them from increasing their prices (which he also said they would excuse by pretending that the Health Care Bill cost them so much money they had to do it). Basically that it's an even more government backed oligarchy than it was before.