Mrcauser’s Weblog

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Greedy insurance companies?…..

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I think one way or the other they’ll get all of the money. But they only highly influence half of Congress. Wall Street, which buys every politician not tied down, owns the rest.

Yes, this means the new Republicans too.

Of course, if the economy doesn’t pick up it won’t matter as we’ll all be to broke to buy insurance anyways. All in all, it remains to be seen how the government is going to pull it off but that’s the way to bet.

We’ve been in boom and bust since we got off the gold standard and it’s getting more volatile as oil prices are being manipulated. There’s no mechanism to regulate printed money so the values are being manipulated by one  crooked regime after another. Expect trillions of dollars to be pour into the country as “creeping socialism” is defeat by the fearless Republicans and Oba mama tells his rabid left wing base that there is nothing he can do about it because he doesn’t have the votes….Blah blah blah.

You know the drill.

Blue Shield of California seeks rate hikes of as much as 59% for individuals – latimes.com

Another big California health insurer has stunned individual policyholders with huge rate increases — this time it’s Blue Shield of California seeking cumulative hikes of as much as 59% for tens of thousands of customers March 1.

Blue Shield’s action comes less than a year after Anthem Blue Cross tried and failed to raise rates as much as 39% for about 700,000 California customers.

San Francisco-based Blue Shield said the increases were the result of fast-rising healthcare costs and other expenses resulting from new healthcare laws.

“We raise rates only when absolutely necessary to pay the accelerating cost of medical care for our members,” the nonprofit insurer told customers last month.

In all, Blue Shield said, 193,000 policyholders would see increases averaging 30% to 35%, the result of three separate rate hikes since October.

Nearly 1 in 4 of the affected customers will see cumulative increases of more than 50% over five months.

While most policyholders received separate notices for the successive rate hikes, others were given the news all at once because they had contracts guaranteeing their rate for a year, Blue Shield spokesman Tom Epstein said.

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Written by mrcauser

January 7, 2011 at 7:33 pm

Posted in Uncategorized

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