Somehow has to pay for the executive salaries and bonuses that have been increasing during the recession. It simply wouldn't be fair to see executives make less during the worst economic period in decades. LA Times:
Another big California health insurer has stunned individual policyholders with huge rate increases — this time it's Blue Shield of California seeking cumulative hikes of as much as 59% for tens of thousands of customers March 1.If they get away with this, there is a major problem that won't be solved until the public option is available. If these insurers really cared about the free market (and we know they don't - they hate it) they would embrace the public option competition. Big Business prefers the Soviet-style system that the GOP introduced which squashes competition.
Blue Shield's action comes less than a year after Anthem Blue Cross tried and failed to raise rates as much as 39% for about 700,000 California customers.
San Francisco-based Blue Shield said the increases were the result of fast-rising healthcare costs and other expenses resulting from new healthcare laws.
