Sacramento, CA — Anthem Blue Cross plans to increase health insurance rates for approximately 700,000 California policy holders.
State Insurance Commissioner Steve Poizner announces that Anthem has filed for new rates equaling an average increase of 14 percent. Some customers could see rates increase by as much as 20 percent.
Anthem Blue Cross drew complaints from Poizner and President Obama after attempting to increase rates by as much as 39 percent last year.
Poizner says his office will analyze the request to make sure that the company spends 70 percent of premiums on medical benefits, which is required under state law.
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