Calif. Accuses Anthem Blue Cross Of Exorbitant Rate Hikes

Law360, New York (January 9, 2013, 5:57 PM EST) -- California’s top insurance regulator on Tuesday accused health insurer Anthem Blue Cross of proposing double-digit rate hikes on small employers and called on voters to pass a ballot initiative empowering him to block unreasonable increases.

Anthem officials swiftly rebuked Insurance Commissioner Dave Jones, saying he had miscalculated the planned rates, unfairly singled out the company and mischaracterized its profit margins to make it seem consumers were being bled dry to pad a corporate bank account.

According to Jones, when reduced benefits are factored in, Anthem is...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.