Topics

Health Insurance
Aetna rate hike excessive, California insurance commissioner says
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. But Jones has no power to stop it. California voters last month soundly rejected Proposition 45, which would have enabled him to block rate hikes that his department deemed unreasonable. Aetna said its rate increase was justified based on...

Loading