Inquiring minds are seeing the supposedly impossible: healthcare costs rising in the age of Obamacare. Remember the ‘good ole days’ where President Obama promised Socialized medicine was the way to less expensive healthcare?
California insurance regulators cleared the way Wednesday for Anthem Blue Cross to implement scaled-back rate hikes after a previous increase was canceled amid an uproar over its size.
Anthem said it intends to put the new rates — averaging 14% and as high as 20% — into effect Oct. 1 for nearly 800,000 individual California policyholders.
Regulators also allowed one of Anthem’s nonprofit competitors, Blue Shield of California, to move ahead with rate increases — averaging 19% and as high as 29% — for 250,000 individual policyholders.
But Anthem wanted to raise their rates much more:
Anthem backed off its initial plan to increase premiums as much as 39% in March after consumers, regulators, lawmakers and even President Obama criticized it, and after a consultant hired by state regulators found major math errors in its filing.
Anybody have a problem with an Insurance company that must have a 39% premium increase but ‘can settle’ with a 20% increase? Facism is so profitable for large corporations, isn’t it?
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