FARK.com: (5259256) Blue Cross withdraws its request for a 39% premium increase after California insurance regulators took the unprecedented step of checking the company's math

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		Blue Cross withdraws its request for a 39% premium increase after California insurance regulators took the unprecedented step of checking the company's math (news.yahoo.com)		44
		More: Followup, Blue Cross Blue Shield, Californians, Steve Poizner, anthems, Anthem Blue Cross, health care costs, moral panics, Meg Whitman

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8727 clicks; posted to Main » on 30 Apr 2010 at 3:50 PM | Favorite | share:

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Generation_D		2010-04-30 09:23:18 AM

Socialism. The private company ought to be able to charge whatever the market will bear.

snuffy		2010-04-30 10:19:55 AM

did a regulator get shorted on the payoff?

Barakku		2010-04-30 10:41:00 AM

They weren't told there would be no math

Weaver95		2010-04-30 11:06:58 AM

The decision also came one day after Anthem's parent, Wellpoint, Inc. of Indianapolis, announced its first-quarter profit soared by 51 percent.

oops.

Blues_X		2010-04-30 11:34:26 AM

Generation_D: Socialism. The private company ought to be able to charge whatever the market will bear.

And in this case, the market said "go fark yourself".

BKITU		2010-04-30 02:16:20 PM

The biggest fallout from this:

* Steve Poizner will run ads showing he has a spine and stands up to special interests and has the little guy's interests at heart.

* Meg Whitman will run ads painting Poizner as an anti-free-market big-government RINO who sides with Barack Obama.

These ads will spam California TV twice per commercial break for the next four weeks.

ju66l3r		2010-04-30 02:59:06 PM

Inadvertent? Seriously? They expect us to buy that?? Wow.

Satan's Cheese Cancer		2010-04-30 03:51:54 PM

The overt fleecing (from gov't and corporations alike) lately is astounding. It is 100% out in the open and nobody cares. Unreal

Papa's Delicate Condition		2010-04-30 03:52:40 PM

Wait, is this hopey changey or invisible hand?
I left my decoder ring at home.

This		2010-04-30 03:53:53 PM

Too bad the Ontarian legislators are too pussy to actually represent their constituencies that way - hooray for auto/home insurance hikes!

Feepit		2010-04-30 03:54:06 PM

Generation_D: Socialism. The private company ought to be able to charge whatever the market will bear.

That line becomes pretty blurry when the law requires everyone to purchase some form of it.

YakBoy42		2010-04-30 03:54:33 PM

B-b-but insurance companies are totally capable of regulating themselves, have only their customers best interests at heart and health care reform will take away our freedom!

theoriginalslash		2010-04-30 03:55:10 PM

Man, in the fight between an insurance company and a poorly-run state government, it's hard to decide which side to take. In cases like this, I usually default to whoever is opposite the insurance company. The lesser of two evils, you might say. Too bad that often, our only choices are evils.

ihatedumbpeople		2010-04-30 03:55:18 PM

So the profits of the parent company jump 51%, they "coincidentally" drop the proposed increase...and it sounds like they're going to resubmit...probably for an increase...smaller, but an increase nonetheless.

mreuther		2010-04-30 03:55:25 PM

BKITU: The biggest fallout from this:

* Steve Poizner will run ads showing he has a spine and stands up to special interests and has the little guy's interests at heart.

* Meg Whitman will run ads painting Poizner as an anti-free-market big-government RINO who sides with Barack Obama.

These ads will spam California TV twice per commercial break for the next four weeks.

Will there be zombie robot sheep?

images.dailyradar.com

Weaver95		2010-04-30 03:55:27 PM

Satan's Cheese Cancer: The overt fleecing (from gov't and corporations alike) lately is astounding. It is 100% out in the open and nobody cares. Unreal

that's because it's not really affecting people. just wait - soon as we have a bunch of cold, wet, hungry people with no jobs and no place to live then you'll see some real change.

Postal Penguin		2010-04-30 03:56:07 PM

Why in any sane system would you take as fact the numbers a company has a strong financial incentive to fudge?

rFarke		2010-04-30 03:56:37 PM

Satan's Cheese Cancer		2010-04-30 04:00:58 PM

Weaver95: Satan's Cheese Cancer: The overt fleecing (from gov't and corporations alike) lately is astounding. It is 100% out in the open and nobody cares. Unreal

that's because it's not really affecting people. just wait - soon as we have a bunch of cold, wet, hungry people with no jobs and no place to live then you'll see some real change.

Sad that it takes a disaster to confront reality - everything from immigration to health care. The broken record of history.

Weaver95: Satan's Cheese Cancer: The overt fleecing (from gov't and corporations alike) lately is astounding. It is 100% out in the open and nobody cares. Unreal

that's because it's not really affecting people. just wait - soon as we have a bunch of cold, wet, hungry people with no jobs and no place to live then you'll see some real change.

Yeah when the bread and circus no longer works - that's when we'll get the change. Sad that as a society we have to 'touch the stove' every single time just to see if it'll still burn.

Bruce Campbell		2010-04-30 04:01:22 PM

They just used a trick to hide the [increase].

Welcome to the process of negotiation for all insurers with all state departments of insurance. Ask for a lot, get a little. This isn't news. The only change is that it is now in media view.

GladGirl		2010-04-30 04:04:03 PM

I wish Blue Shield would do the same thing. Our Blue Shield premiums here at my company in California are going up 93 percent this coming year, forcing our organization to switch plans.

tortilla burger		2010-04-30 04:04:13 PM

Well it turned out to be a misplaced demical point - those things can be tricky sometimes.

wraithmare		2010-04-30 04:07:51 PM

I'm on hold with Anthem Blue Cross right now about billing so I'm getting a kick out of these replies.

TheGreatGazoo		2010-04-30 04:08:31 PM

It didn't stop Humana from proposing an 80% raise for the company I work for.

Cajonian		2010-04-30 04:08:55 PM

vartian		2010-04-30 04:09:22 PM

Generation_D: Socialism. The private company ought to be able to charge whatever the market will bear.

Health Care is a right, and the next generation will grow up with that as an accepted fact.

We won, you lost, get over it.

TheIndependent		2010-04-30 04:13:05 PM

Damned actuaries... can't trust that lot!

palelizard		2010-04-30 04:13:36 PM

Generation_D: Socialism. The private company ought to be able to charge whatever the market will bear.

Sooo... you hired your own private security and fire department for your house?

Dangl1ng		2010-04-30 04:17:22 PM

GladGirl: I wish Blue Shield would do the same thing. Our Blue Shield premiums here at my company in California are going up 93 percent this coming year, forcing our organization to switch plans.

We just switched to Blue Shield last year. On the renewal my farking HSA plan just went up 64% that I signed up for last year. Now they want me to go to an HMO, drop coverage for my wife and still pay $11 more a month. Assholes.

fernanernie		2010-04-30 04:18:18 PM

I am sure you will still be able to see the eraser marks when they resubmit with the "accurate" data.

Tannhauser Gatekeeper		2010-04-30 04:23:17 PM

How about this plan: allow the insurance company to raise its rates by one percent for every ten top executives they trebuchet from the roof of their HQ.

theoriginalslash		2010-04-30 04:34:13 PM

RE Tannhauser Gatekeeper 2010-04-30 04:23:17 PM
"How about this plan: allow the insurance company to raise its rates by one percent for every ten top executives they trebuchet from the roof of their HQ."

I like the cut of your jib. Because a straight drop wouldn't be as entertaining as a trebuchet.

Dangl1ng		2010-04-30 04:35:45 PM

theoriginalslash: I like the cut of your jib. Because a straight drop wouldn't be as entertaining as a trebuchet.

It would also offer those slimey bastards a way to work around the system. They would have one story HQ's with cushions lining the sides.

Maechyll		2010-04-30 04:54:04 PM

Tannhauser Gatekeeper: How about this plan: allow the insurance company to raise its rates by one percent for every ten top executives they trebuchet from the roof of their HQ.

Teh plan it is good.

This		2010-04-30 04:54:45 PM

Dangl1ng: theoriginalslash: I like the cut of your jib. Because a straight drop wouldn't be as entertaining as a trebuchet.

It would also offer those slimey bastards a way to work around the system. They would have one story HQ's with cushions lining the sides.

Fine. Let's add skeet-shooting to the event.

/PULL!

Maechyll		2010-04-30 04:55:15 PM

Dangl1ng: It would also offer those slimey bastards a way to work around the system. They would have one story HQ's with cushions lining the sides.

But WE get to build the trebuchet. Problem solvaged.

rmoody		2010-04-30 06:05:10 PM

This: Dangl1ng: theoriginalslash: I like the cut of your jib. Because a straight drop wouldn't be as entertaining as a trebuchet.

It would also offer those slimey bastards a way to work around the system. They would have one story HQ's with cushions lining the sides.

Fine. Let's add skeet-shooting to the event.

/PULL!

If the single-issue voting, pro-gun conservatives ever wise up to how badly the corporations are screwing them over it'll be a fun time for all.

/voted for Obama
//pissed at the half-assed healthcare bill
///gun owner
////both of us are ready to march

TyrantII		2010-04-30 07:33:41 PM

Generation_D: Socialism. The private company ought to be able to charge whatever the market will bear.

Good thing there's no such thing [and never was] as a free market in terms of Healthcare!

MrEricSir		2010-04-30 07:36:12 PM

Now if only the bank regulators bothered to "check the math." But I guess they were too busy trying to download all the porn on the internet.

VictorOfBorge		2010-04-30 09:28:07 PM

"Dropped like a stone."

sseye		2010-04-30 09:36:37 PM

broken market is broken.

profit and ethical health care are really not that compatible anyway.

memebot_of_doom		2010-04-30 11:45:52 PM

sseye: profit and ethical health care are really not that compatible anyway.

I never understood why health insurance was for profit anyway.

DupeOfURL		2010-05-01 11:53:31 AM

Some of the guys from the SEC will be over to run those numbers again.

Kittypie070		2010-05-01 09:41:02 PM

palelizard 2010-04-30 04:13:36 PM
Generation_Dumb: Socialism. The private company ought to be able to charge whatever the market will bear.

Sooo...you hired your own private security and fire department for your house?

Did you build your own private roads too?

How do you have your water piped in, from your own private well?

And where did you get your own private food, Mister I Me Mine Super Capitalist Bootstrappy?

Did you carefully test each and every piece of bread to make sure each and every grain of wheat
in it wasn't grown with the foul Satanic touch of a vile Marxist Fartbama-tastic William Ayers-approved Halal government farm subsidy?

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