Individual insurance rates soar in 4 states

[babylonsister]

Individual insurance rates soar in 4 states

By LINDA A. JOHNSON (AP) – 1 day ago


TRENTON, N.J. — Consumers in at least four states who buy their own health insurance are getting hit with premium increases of 15 percent or more — and people in other states could see the same thing.

Anthem Blue Cross, a subsidiary of WellPoint Inc., has been under fire for a week from regulators and politicians for notifying some of its 800,000 individual policyholders in California that it plans to raise rates by up to 39 percent March 1.

The Anthem Blue Cross plan in Maine is asking for increases of about 23 percent this year for some individual policyholders. Last year, they raised rates up to 32 percent.

And in Oregon, multiple insurers were granted rate hikes of 15 percent or more this year after increases of around 25 percent last year for customers who purchase individual health insurance, rather than getting it through their employer.

Premiums are far more volatile for individual policies than for those bought by employers and other large groups, which have bargaining clout and a sizable pool of people among which to spread risk. As more people have lost jobs, many who are healthy have decided to go without health insurance or get a bare-bones, high-deductible policy, reducing the amount of premiums insurers receive.

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[Captain Hilts]

1. Individual insurance is just not an option for most uninsured and independently employed. nt

[uberblonde]

2. My group plan went up by 20%.

Horizon Blue Cross HMO in New Jersey. I can only imagine how much the individual policies are going up.

[Mz Pip]

3. I find it interesting

that these health insurance companies started raising their rates almost immediately after the SCOTUS ruling on corporate campaign contributions.

Guess the health insurance companies need a few extra bucks for their anti HCR ads and contributions to anti HCR politicians.

[Lorien]

4. Yep. As we've seen before they get a 10-1 return on investment

where lobbying is concerned.