Legal Commentary

Wellpoint (BCBS) To Raise Rates in 11 States

By Jeralyn

It's not just California. Think Progress reports Wellpoint (Blue Cross Blue Shield) is going to impose double-digit rate increases in 11 of the 14 states it does business. In addiition to California, the states are: Colorado, Connecticut, Georgia, Indiana, Maine, Nevada, New Hampshire, New York, Virginia, and Wisconsin.”

The findings are based on a new survey by the Center for American Progress Action Fund. Here's a sample:

Colorado: Average rates are expected to increase 19.9 percent in 2010, with increases of up to 24.5 percent for some policyholders.

Indiana: Rates are expected to increase 21 percent in 2010.

[More...]

Maine: Anthem Blue Cross and Blue Shield requested a 23 percent increase for 2010 after five straight years of double-digit increases for individual policyholders.

Nevada: WellPoint requested a 17.6 percent premium rate increase for individual plans in 2010, and the state approved an overall rate increase of 12.8 percent.

Small employers in New York, watch out:

There are also signs that WellPoint has substantially increased rates on “small group” policies, which cover small businesses with up to 50 employees. Data wasn’t immediately available in many states, but in New York WellPoint is increasing premiums on small group policies by up to 28.6 percent this year.

Full post as published by TalkLeft on February 24, 2010 (boomark / email).