Blue Shield of California
California’s insurance commissioner has reached an agreement with one of the state’s major health insurance companies to delay its cancellation of more than 115,000 individual policies under the federal Affordable Care Act.
Democrats in the California Assembly on Thursday narrowly approved giving state regulators the power to reject rate hikes proposed by health insurers, voting after Republican lawmakers walked out of the chamber in protest.
For the second time this year, Blue Shield of California is facing scrutiny from a state regulator on double-digit rate hikes for individual health insurance policyholders.
Blue Shield of California says it is withdrawing its plan to increase health insurance rates for individual policyholders in what would have been the third such rate hike since October.
Blue Shield has entered an agreement with the city of San Francisco that will keep insurance premiums for current and retired city employees at their current levels for at least a year, officials said Wednesday.
Blue Shield of California said an independent review has found that its most recent rate hikes on health insurance policies are not excessive and meet state and federal requirements.
Rate hikes of up to 59 percent for members of Blue Shield of California won’t be going into effect on March 1 as previously thought.
State Insurance Commissioner Dave Jones has renewed his criticism of Blue Shield of California Saturday and plans to conduct a full review of the insurance carrier’s planned rate increase.