CALIFORNIA DEPARTMENT OF INSURANCE UNCOVERS SUBSTANTIAL ERRORS IN ANTHEM BLUE CROSS RATE FILING;
ANTHEM WITHDRAWS RATE APPLICATIONS
Commissioner Poizner Calls Move a ‘Great Victory’ for California Consumers, Releases Summary of Actuarial Review of Anthem Filing.Commissioner Poizner released the following statement today regarding Anthem’s decision to withdraw its rate filing:
This is a great victory for California consumers. I’m pleased that California consumers will not face rate hikes of up to 39 percent. In late January, because I was highly skeptical of the rate increase, I ordered an outside review to ensure that Anthem’s filing complied with state law. Anthem agreed to delay their increase pending this review. The independent actuarial analysis found numerous and substantial errors in their filing that would have led to massive and unjustified rate increases. We notified Anthem of these errors and they admitted to the mistakes.”
Anthem responded Friday April 30, 2010 that they will refile their rate increase request. For more Health Insurance news visit QuoteBroker. QuoteBroker provides affordable individual insurance, family insurance and group health insurance information and quotes from all major insurance companies.
This is a great victory for California consumers. I’m pleased that California consumers will not face rate hikes of up to 39 percent. In late January, because I was highly skeptical of the rate increase, I ordered an outside review to ensure that Anthem’s filing complied with state law. Anthem agreed to delay their increase pending this review. The independent actuarial analysis found numerous and substantial errors in their filing that would have led to massive and unjustified rate increases. We notified Anthem of these errors and they admitted to the mistakes.”
Anthem responded Friday April 30, 2010 that they will refile their rate increase request. For more Health Insurance news visit QuoteBroker. QuoteBroker provides affordable individual insurance, family insurance and group health insurance information and quotes from all major insurance companies.
