Anthem Reduces Feb 2013 Rate Hike
After pressure from the California Department of Insurance (CDI), Anthem Blue Cross has agreed to reduce its average February 2013 rate action from 17.9 percent increase to 13.9%. This will affect over 636,000 Individual members.
Anthem said it plans to issue refunds or premium credits to customers who paid the higher rates this month. Anthem also agreed to allow policyholders who switched to a lower cost product to switch back to their former product. The members who dropped coverage because of the rate increase can reinstate without going through underwriting.
This change of rate means that members will have to pay $54 million less than they otherwise would have. If you have questions about how this rate change effects you, please contact us at 800-930-7956