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Friday, Jan 27, 2023
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Health Insurers to Receive More Scrutiny

Four top health insurers, including Woodland Hills-based companies Anthem Blue Cross and Health Net, will undergo additional reviews when proposing rate increases, the California Department of Insurance announced. State Insurance Commissioner Steve Poizner called for additional reviews by outside actuaries as part of the department’s regulatory review. The plan focuses on Anthem Blue Cross, Aetna, Health Net and Blue Shield, which cover about 90 percent of the individual insurance market. “By subjecting the state’s filings to this additional level of scrutiny, California consumers will know that all major insurers are adhering to the state’s requirement that 70 percent of premiums are spent on medical benefits,” Poizner said. The action follows the department’s discovery through Axene Health Partners that Anthem Blue Cross had made errors in calculating the increase. The insurance company had attempted to increase its rate by 50 percent more than the state permits when it attempted to implement a 39-percent rate hike, the statement said. Axene Health Partners is currently reviewing filings by Aetna and Blue Shield. —Jessica Selva

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