Anthem drops rate-hike request that drew outrage
Friday, April 30, 2010
Well, Steve Poizner‘s gubernatorial campaign might be a little rickety, but you have to give the guy credit for diligence in handling the Anthem Blue Cross rate hike request — you remember, the one that could have jacked rates by as much as 39 percent.
Anthem had agreed to delay the rate hike while the state Department of Insurance, which Poizner runs, conducted a review, using an outside firm, of the math behind the request. Turns out Anthem’s calculators were low on batteries or something. The review found numerous mathematical mistakes, including double-counting some factors that go into the rate formula.
So Anthem has called the whole thing off.