Insurance Commissioner Jones Announces Decrease in Proposed Health Insurance Rates by Anthem Blue Cross

This is GREAT NEWS!!!

Insurance Commissioner Dave Jones today issued the following statement regarding Anthem Blue Cross’ decision to delay and reduce its most recently proposed health insurance rate increase:

“Today, I am pleased to announce good news for over 600,000 Californians who have individual or family plan health insurance from Anthem Blue Cross.

“As a result of the Department of Insurance review, Anthem Blue Cross is reducing its rate increase from 16.4 percent to 9.1 percent; delaying the effective date of the rate increase from April 1st to July 1st; and delaying increases in co-payments and deductibles proposed for April 1st to January 1, 2012. All told, this will save Anthem Blue Cross policyholders a total of at least $40 million. But this decision by Anthem Blue Cross to reduce its rate increase underscores the need to give the Insurance Commissioner the authority to reject excessive rate hikes, an authority that I do not have.
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