It was announced this week that Blue Shield of California is planning a 59% rate hike. 59% for health insurance, after Obamacare has passed?! They must think they’re Anthem Blue Cross who got reamed in 2010 for even suggesting a 39% hike. I guess insurers think that rate increases are like a game of poker you just keep upping the ante. To add insult to injury they said in a statement that their decision had:
almost nothing to do with the federal health reform law and that ultimately the law will help slow down health care costs.
Sounds to me like Blue Shield has just gone completely insane.