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Health insurance company denied 20 percent rate hikePosted On Tue, December 14, 2010
Anthem Blue Cross/Blue Shield of Connecticut was recently denied a proposed 20 percent premium hike by the state's insurance department.
A representative from insurance trade group American's Health Insurance Plans says the insurer's request shouldn't have been denied. Karen Ignagni asserts the decision was fueled by politics and does not take into account project costs for the upcoming year.
"Data-driven analysis and actuarial review would take you to a very different conclusion than the one reached in Connecticut," says Ignagni.
According to the Connecticut Department of Insurance, Blue Cross/Blue Shield provides coverage for more state residents than any other insurer. Given the potential impact of the rate request, the state insurance commissioner announced plans earlier this year to make the filing a public event.
Other health insurance companies have also tried to obtain permission to increase premiums in various states. In New York, for example, requests for rate hikes jumped more than 20 percent.
Those who aren't content with their current health insurance provider have other options. Consumers can log onto healthcare.gov for more information on private and public coverage plans.
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