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.
The Sacramento Bee:
Aetna Charging Small Businesses Too Much, California Commissioner Says
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 “excessive and unreasonable” rates. Jones’ actuaries determined Aetna Life Insurance Company’s filing for small-group policies – with an average 10.7 percent increase – will affect more than 64,000 people beginning Jan. 1. (Cadelago, 12/18)
Los Angeles Times:
Aetna Rate Hike Excessive, California Insurance Commissioner Says
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)