Blue Shield of California seeks rate hikes up to 20%
Thursday, December 13, 2012 - 12:00
in Mathematics & Economics
In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers. Consumer advocates say the firm should use its reserves to hold down rates.Health insurer Blue Shield of California wants to raise rates as much as 20% for some individual policyholders, prompting calls for the nonprofit to use some of its record-high reserve of $3.9 billion to hold down premiums.