Health overhaul’s $264M question weighs down WellPoint
The failure by state regulators to decide how much insurers must spend on patient care is scaring investors from health-plan stocks and complicating insurance company decisions.
The failure by state regulators to decide how much insurers must spend on patient care is scaring investors from health-plan stocks and complicating insurance company decisions.
The California Department of Insurance said Wednesday it approved a rate increase averaging about 14 percent for Anthem Blue
Cross customers. The department also OK’d a nearly 19-percent increase for Blue Shield of California.
CNO Financial Group Inc. has finalized plans to set up a $10 million fund to settle a multistate investigation into increases
in policy costs.
WellPoint may face the most threat from more aggressive reviews. The Indianapolis insurer is the leader in small-business
and individual policies, areas that have seen the biggest increases in recent years.
The Obama administration has asked state regulators to double-check premium hikes from Indianapolis-based health insurer WellPoint
Inc. after an audit found problems with proposed California increases.
A consumer watchdog group filed a lawsuit Monday against WellPoint’s California subsidiary on behalf of policyholders, claiming
they were pushed to take coverage with fewer benefits and higher deductibles.
The California attorney general has demanded documents from several health insurers, including Indianapolis' WellPoint,
believing that their rate-setting and claims practices might be illegal.
Amid attacks from Democrats over high executive salaries, Angela Braly testified in Washington, D.C., on Wednesday that big
insurance-premium increases are
the result of growing price tags for hospital care and pharmaceuticals.
California’s insurance regulator said Monday his office has found more than 700 violations by the state’s largest for-profit
health insurer, a subsidiary of Indianapolis-based WellPoint.
President Obama’s latest push for a health care overhaul could drive health plans around the country into insolvency, according
to an insurance trade group.
State House insurance committee chair grills executives about WellPoint’s 21-percent premium increase for individual policyholders
in Indiana.
Three WellPoint executives will be on hand Wednesday morning to answer questions about premium increases on its individual
policies, which have risen as high as 39 percent this year.
The Indianapolis-based insurer, preparing for Congressional testimony on proposed premium increases in California, says its
earnings forecast is now less clear.
The planned rate increase, which state officials estimated would affect about 700,000 customers, averaged 25 percent and would have been as high as 39 percent for some.
Anthem has declined to say how many of its 800,000 individual policyholders in California are being affected by the hike.
But Health and Human Services Secretary Kathleen Sebelius demanded specifics in a sternly worded letter.
Demonstrators on Wednesday backed Maine’s insurance superintendent for rejecting a request from the state’s largest private health insurer seeking an 18-percent rate hike for its individual insurance plans.