That is exactly what is playing out right now in California, where Anthem Blue Cross recently announced that on March 1, many of its 800,000 policyholders could see a rate increase of up to 39 percent. What's more, Anthem also declared that it may adjust rates more frequently than once-a-year, making it impossible for families to anticipate and plan for such increases.
For many Californians, including two individuals profiled by the LA Times, this is devastating news. Keith Knueven, a graphic designer in California, is about to see his health insurance rates climb by 37%, from $297 per month to $393. Mark Weiss, a podiatrist, and his wife will see their annual policy rise from $20,184 to $27,336 -- a 35% increase. And if that weren't enough, as these Americans are facing dramatic rate increases, Anthem's parent company WellPoint reported $2,740,000,000 in profits during the last quarter of 2009.
-Kathleen Sibelius at the WH blog
