A health insurer in California just raised rates on individual purchasers 30 to 39% and promised more hikes, oh, whenever they damn well please. Not our fault, says Anthem Blue Cross:
"We understand and strongly share our members' concerns over the rising cost of healthcare services and the corresponding adverse impact on insurance premiums," the company said in a statement.Here's what they edited out of their PR:
"Unfortunately, the individual market premiums are merely the symptoms of a larger underlying problem in California's individual market -- rising healthcare costs."
Our industry's lobbyists and advertising, not to mention the subscribers we suckered into helping, beat back any reform at all. We don't think we have to worry in the least about the government helping you sick people.Anthem is probably ticked that their profit is capped at 30% of revenue.
Update (2/13): h/t MoveOn