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Health Insurance Life Insurance

No Rate-Hike for Anthem-BlueCross

Los Angeles, California-based health insurer Anthem Blue Cross announced this week that policyholders will not see an insurance rate hike on May 1st, after all.

Kristin Binns, speaking for Anthem’s parent company, Wellpoint, Inc, told the Los Angeles Times that clients will “…receive adequate notification of any rate change. Until they receive information indicating otherwise, rates remain unchanged.”

Last January, many individual policyholders who were clients of Anthem were told that they would be seeing a rate increase as great as 39% on March 1st. After a significant public protest, a two month delay was announced.

Under California state law, insurance companies must give at least thirty days’ notice before altering rates.

Anthem has not yet said how long this new delay will be.

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By Beth

Beth Foster, 27, joins our team from the field of real estate and property development. Originally from the east coast and now living in Florida, she is familiar with the overlap in homeowners insurance and specialty policies that cover extreme weather events like hurricanes and flooding. "People don't find out the gaps are there until something big happens and then, at the worst possible moment, they find out they aren't protected," said Blair. "Most folks just renew their policies every year and don't evaluate the terms. You'd be surprised how many people insure things they don't even own any more!" Contact Beth at info@cheapinsurance123.com with your homeowners and specialty insurance related questions.

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