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Wellpoint (BCBS) To Raise Rates in 11 States | 33 comments (33 topical)

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And yet, we never see facts that explain why (none / 0) (#26)
by vicndabx on Wed Feb 24, 2010 at 03:23:56 PM EST
the increases aren't justified.  

I think when insurance company profits (none / 0) (#27)
by Anne on Wed Feb 24, 2010 at 03:33:10 PM EST
are skyrocketing - and they are - it might be an indication that the double-digit increases are not justified.

Seems pretty obvious to me.

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Skyrocketing (none / 0) (#29)
by vicndabx on Wed Feb 24, 2010 at 03:57:11 PM EST
I know a lot of folks who wouldn't consider their 4-5% pay-raise "skyrocketing."  

Must also be a whole lotta collusion w/the State Insurance Commisioners who, after review of actual claims data determine whether the rate hikes are justified.  You were on the right track in some of your other posts where you begin to acknowledge the costs for services rendered plays a role - the biggest role.  Public discussion on why medical costs are so high is what needs to happen.

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Collusion? (none / 0) (#30)
by MileHi Hawkeye on Wed Feb 24, 2010 at 04:53:09 PM EST
Uh huh.

Anthem Company Targeted for Market Conduct Exam
by DORA's Division of Insurance

The Colorado Division of Insurance has scheduled a targeted market conduct examination to begin on March 1 this year of Rocky Mountain Hospital and Medical Service, Inc. commonly known as Anthem Blue Cross and Blue Shield.  

The examination will review the rate filings that affect policyholders in the individual health market. The Commissioner of Insurance has determined there is possible harm to consumers which requires immediate action.

"We perform market conduct examinations on a regular cycle, but can also call an exam when we are alerted to activity in the marketplace that may be detrimental to consumers," Commissioner Morrison said. "Our consumer affairs analysts noted a significant spike in the number of complaints about rate increases from Anthem.  We are conducting a market conduct exam at this time to review the supporting data in additional detail to determine if the premium rates being charged are appropriate."

The market conduct exam is expected to take approximately eight weeks.




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Well no, of course they don't (none / 0) (#31)
by ruffian on Wed Feb 24, 2010 at 06:38:40 PM EST
If their pay was skyrocketing, profits would not be at record levels.

Yes, I would like to see a breakdown of what costs for medical services rose by 40% recently.

Until then I will continue to believe that the rate increases are due to the shrinking pool of customers due to people dropping coverage. Makes sense to me that if their pool is smaller they have to charge the people in the pool more to keep the same level of benefits and profits.  It's a death spiral.  More people will drop out, and the prices will go higher, until, as kdog says, it reaches its logical conclusion and there is one guy left paying $500,000 for his premiums.  

It is simply an unsustainable system.

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Wellpoint (BCBS) To Raise Rates in 11 States | 33 comments (33 topical)

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