Blue Shield of California seeks rate hikes of as much as 59% for individuals
“Another big California health insurer has stunned individual policyholders with huge rate increases — this time it’s Blue Shield of California seeking cumulative hikes of as much as 59% for tens of thousands of customers March 1. Blue Shield’s action comes less than a year after Anthem Blue Cross tried and failed to raise rates as much as 39% for about 700,000 California customers.
San Francisco-based Blue Shield said the increases were the result of fast-rising healthcare costs and other expenses resulting from new healthcare laws.
. . . Nearly 1 in 4 of the affected customers will see cumulative increases of more than 50% over five months. . . Michael Fraser, a Blue Shield policyholder from San Diego, learned recently that his monthly bill would climb 59%, to $431 from $271. “When I tell people, their jaws drop and their eyes bug out,” said Fraser “