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Blue Shield Imposes Another Unreasonable Rate Hike, This Time On More Than 80,000 Californians says Consumer Watchdog
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Blue Shield Imposes Another Unreasonable Rate Hike, This Time On More Than 80,000 Californians says Consumer Watchdog
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Newsletter
Blue Shield Imposes Another Unreasonable Rate Hike, This Time On More Than 80,000 Californians says Consumer Watchdog
2014
Overview
\"Blue Shield has made overblown projections of health care costs and padded its overhead to impose higher rates that cannot be justified, even as health care cost growth continues to hit record lows,\" said Carmen Balber, Executive Director with Consumer Watchdog. \"Unfortunately California's insurance commissioner, unlike those in 35 other states, has no power to stop insurers from overcharging consumers.\" The group also noted that Blue Shield of California, the parent company of Blue Shield Life and Health, is in a position of notable financial strength. Blue Shield of California has amassed a total net worth of $3.86 billion. At the end of 2012, Blue Shield of California had excess surplus of about $3.39 billion - an amount that is 1561% more than the state requires.
Publisher
U.S. Newswire
Subject
