Insurance

Insurance news, investigations, and reform — auto, home, and health insurance rates, claims denials, and industry accountability.

Blue Shield Says It’s Capping Profits

June 8, 2011 · Mark Reback

In what it called a "bold move" to cut health care costs, Blue Shield of California said Tuesday it will cap profits at 2 percent of revenue and pump any extra cash back into credits for customers, funding to care providers and grant awards to nonprofits that provide health care to poor Californians. "This doesn't solve the affordability problem, but it does represent a paradigm shift for a health plan," said Blue Shield Chief Executive Officer Bruce Bodaken, in prepared remarks ahead of a speech on the plan in San Francisco on Tuesday.

Blue Shield of California To Cut Many Premiums 2.5% This Year

June 8, 2011 · Mark Reback

Health insurer Blue Shield says its initiative will result in $167 million in savings for nearly 2 million customers. Health insurer Blue Shield of California, under fire for a series of recent rate hikes and the pay of its chief executive, plans to cut this year's premiums by 2.5% for many of its 3.3 million policyholders as part of a new initiative to hold down costs.

Blue Shield of California pays back $180 million

June 7, 2011 · Mark Reback

Blue Shield of California, one of the largest insurers in the state, says it has enacted a new rule that will allow it to pay back its customers $180 million in excess profit. The new rule limits its annual income to 2% of revenue and requires any profit in excess of that to be returned to customers and the community. The rule is being implemented retroactively to 2010 when the insurer earned $315 million in profit and $10 billion in revenue.

Consumer Watchdog at 25: Adding Up Hard-Won Victories, Honoring Brave Allies

June 6, 2011 · Judy Dugan

Calif. Legislators: Choice Is Between Insurance Industry And Rest Of Us

June 1, 2011 · Judy Dugan

Health Insurers Use Scare Tactics to Block Regulation of Rate Increases

June 1, 2011 · Mark Reback

The companies cite bogus figures to fight a bill that would give California officials prior-approval authority over premium hikes. And they're trying to convince the public that the measure would actually cost people money. Here's how badly the state's health insurance companies want to kill a bill in the Legislature giving state officials the power to put the kibosh on excessive premium increases.

Calif. Bill Considers Controlling Health Insurance Rates

June 1, 2011 · Mark Reback

<a href="http://abclocal.go.com/kgo/story?section=news/7_on_your_side&id=8165654">Click here to view the video of this news broadcast</a>. In the past year, two of California's major health insurance companies have announced double-digit rate increases; both were scaled back under enormous public pressure. Now, there's a movement to allow state regulators to say no to unreasonable rate hikes.

Clock Is Ticking: Bill To Curb Health Insurance Rates Squeaks Past Lobbyists In Key Vote

May 31, 2011 · Judy Dugan

ANALYSIS: Blue Shield Of California’s Refund Is Peanuts Compared To Its Profits

May 31, 2011 · Mark Reback

As the head of communications for two of the country’s largest health insurers for almost 20 years, I recognize an orchestrated spin campaign when I see one. And boy oh boy did I see an award-winning one this week in San Francisco.

Watching The Health Insurers

May 31, 2011 · Mark Reback

Opponents of a bill that would allow state regulators to reject unreasonable increases in health insurance premiums are stepping up their attacks on the measure, contending that it would push premiums even higher and make healthcare less available. These arguments are a smokescreen, and lawmakers shouldn't lose sight of the need to give consumers of health insurance the same protection they have in auto and homeowners' policies.

Where Do Brokers Fit in New Health Insurance Picture?

May 26, 2011 · Mark Reback

California's health insurance regulations -- aligned this year with federal guidelines -- include a requirement that insurers spend at least 80% of their premium revenue on direct patient care. However, efforts to change provisions of the federal Patient Protection and Affordable Care Act could have an effect on how California insurers balance their books -- and on how consumers pay for health coverage.

Blue Shield CEO Bruce Bodaken Earned $4.6 Million Last Year

May 26, 2011 · Mark Reback

Blue Shield, California's largest nonprofit health insurer, releases the salary data in response to a new state law intended to keep healthcare insurance costs under control.