In a nice little post over at Daily Kos, Angry Mouse says “Anthem to Screw Customers in May Instead of March.. He’s talking about Anthem Blue Cross, a subsidiary of Wellpoint, and its plan to raise its rates in California by 39%. Strong and resolute Democrats are fighting now to delay implementation for two months.
Here’s the line that got me, from the article cited by Mouse:
“We have instructed the actuaries to review the rates with a fine tooth comb to ensure they comply with state law that requires that 70 cents of every dollar in premiums is spent on medical benefits.
That’s correct. California state law requires private insurers to hold their overhead down to 30% of each premium dollar.
Piece of Mindful 