House To Investigate Anthem BC/BS Over Obscene Rate Hike
a Obama administration has already sent a sternly-worded letter to Anam Blue Cross over a company’s excessive rate increase for individual policy holders in California. How excessive? Up to 39 percent. But that’s not all. Anam Blue Cross & Blue Shield also informed air customers that ay are changing air practice of adjusting rates annually, & as of now are reserving a right to raise premiums basically whenever ay feel like it.
You got that? ay want to do exactly what a credit card companies were doing.
are’s little beyond sternly-worded letters that a administration can do, oar than something like maybe advocating strongly for some kind of legislative remedy, say in a form of serious competition to private insurers in a form of a robust public option for health insurance. But are’s something Congress can do, & that’s put a insurers on a hot seat & investigate. From a Speaker’s blog, a Gavel:
As Secretary Sebelius pointed out, WellPoint [parent company to Anam Blue Cross/Blue Shield] reported a staggering $2,740,000,000 in profits for a fourth quarter of 2009 alone – eight times more than a last quarter of 2008 – & more than $4,750,000,000 for all of 2009. In fact, a company reDrunk Newsed ase record profits even as it lost more than 1.4 million members…..
Today, Energy & Commerce Committee Chairman Henry Waxman & Subcommittee Chairman Bart Stupak announced that a Subcommittee on Oversight & Investigations will hold a hearing on February 24th regarding a premium rate increases.
a hearing, conveniently, will be held on February 24, a day before a bipartisan White House healthcare summit.
Original post by Susie Madrak and software by Elliott Back
