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Friday, Dec 19 2014

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Aetna's Rate Increase For Calif. Small Business Insurance Plans Is Too Much, Says Commissioner

Based on filings, Aetna's small business rates are "excessive and unreasonable" for plans taking effect Jan. 1, said state insurance commissioner David Jones.

With the bruising battle over Proposition 45 behind him, California Insurance Commissioner Dave Jones said Thursday that another health insurer is preparing to charge small businesses 鈥渆xcessive and unreasonable鈥 rates. Jones鈥 actuaries determined Aetna Life Insurance Company鈥檚 filing for small-group policies 鈥 with an average 10.7 percent increase 鈥 will affect more than 64,000 people beginning Jan. 1. (Cadelago, 12/18)

Health insurance giant Aetna Inc. is imposing excessive rate hikes on more than 5,000 small employers, according to California's insurance commissioner. Commissioner Dave Jones lashed out Thursday at the third-largest U.S. health insurer for raising premiums as much as 20% on some small businesses starting Jan. 1. The average increase of 10.7% will cost small employers and their workers $23.5 million in excessive premiums, according to the state. (Terhune, 12/18)

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