California Insurance Commissioner Wants Anthem Locked Out of Group Exchange
Insurance commissioner Dave Jones says his office has determined that Anthem Blue Cross’s small group rates this year overproject health cost growth and would draw in unreasonable profit for the company.
Jones says the Affordable Care Act calls on state insurance commissioners to make recommendations about insurers in the health exchanges.
He says Anthem - and its sister company Blue Cross of California - should not be allowed in the market for small employers.
“This July 1st rate increase, is the third time that Anthem has imposed an unreasonable rate increase on small businesses this year alone,” said Jones.
Anthem Blue Cross says it is one of two insurers that will be serving the entire state in the individual health insurance exchange next year. It says their rates will be affordable.
Covered California says it will consider Jones’ opinion as it makes the final decision on participating insurers under the federal health law.