With Health Care “Reform” passing and the resulting benefit mandates – we have seen several clients get hit with 15-35% rate increases.
This is why when I saw the announcement from Blue Shield – I was curious. Then, I looked close:
California Blue Shield lost $27 million on individual coverage in 2010, and the decision to go through 2011 without asking for additional rate increases likely will cut revenue by about $35 million, the company says.
Blue Shield has advocated for socialized medicine for years – including a 2002 attempt that was overturned via referrendum.