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California consumers faced with health insurance hikesPosted On Mon, March 12, 2012
Approximately 320,000 residents of the state of California are witnessing a rise in health insurance premiums due to Blue Shield's rate hikes, according to Consumer Watchdog Campaign.
The increase will average close to 8 percent, and this has made consumers unhappy. There is a petition in the state to prevent this from happening again, according to the report. The petition would give regulators the power to require insurance companies to justify every rate hike in the state. Currently, 35 states already have this power.
"This initiative gives voters the chance to rein in health insurance prices, and Blue Shield just gave 320,000 policyholders a reason to sign the ballot petition," said Carmen Balber, campaign manager for the non-profit Consumer Watchdog Campaign.
Consumers who are witnessing their health insurance rates rise to levels they aren't confident they can afford may want to look for other insurance options. One way to do this is to compare health insurance quotes, which could give them a better rate for a comparable plan, saving a large amount of money in the long run.
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