California's Anthem Blue Cross admits 'miscalculation' in 39 percent rate hike

[babylonsister]

How lame. Would they have admitted anything if they weren't called out on it? :eyes:

California's Anthem Blue Cross admits 'miscalculation' in 39 percent rate hike

By Bobby Caina Calvan | The Sacramento Bee


Anthem Blue Cross used deeply flawed math and assumptions when it announced plans to hike premiums by as much as 39 percent for thousands of California subscribers, the Department of Insurance announced Thursday.

Acknowledging that it had made "inadvertent miscalculations," the state's largest for-profit health insurer said it would withdraw its controversial rate filing. The company said it is considering re-submitting its filing as soon as next month but did not disclose specifics.

The decision to withdraw its original proposal brings relief to more than 700,000 Blue Cross subscribers in California who buy health policies on their own.

The proposed rate hikes caused an uproar not only among cash-strapped consumers, but also among elected officials in Sacramento and on Capitol Hill. They summoned company executives for hearings that served as a sideshow to the unfolding political spectacle over a massive health care overhaul.

more...

http://www.sacbee.com/2010/04/30/2716842/anthem-blue-cross-admits-inadvertent.html

[KharmaTrain]

1. Well Knock Me Over With A Feather...

The only miscalculation they made was the ugly PR they got when this scam was uncovered. If anything, it helped push the HIR bill across the finish line. Now they'll have to go back and find the loopholes and sneak their rate increases in a different way.

The saving grace here, Sis...seems the corporates are starting to sweat a little under the collar. During the boooosh regime they would have said public be damned and get cover from the right wing "media"...now it's not so easy. Maybe, just maybe, we've turned a corner.

:hi:

[babylonsister]

3. Hi, K T! I think this is a good sign, too, and hopefully a sign of things

to come. Let's keep them honest finally!

:hi:

[hobbit709]

2. And I "miscalculated" the last time I got stopped for speeding.

Miscalculated my ass.

[City Lights]

4. So Anthem BC uses fuzzy math to calculate rate hikes.

What a shocker! :sarcasm:

What a pathetic excuse!

[babylonsister]

5. Yea, sounds like a very lukewarm 'apology' to me. nt