The insurance company, which insures 3.3 million people or 10 percent of the California market, said the reduction would apply to bills starting in Oct. 2011. The insurer expects the cuts will result in $167 million in savings for nearly 2 million consumers.
According to the report, the rate cuts may come as a result of increased regulatory scrutiny. Following pressure from consumers and California’s insurance commissioner, the payor canceled the last of three rate increases in seven months for individual policyholders in March.
Read the LA Times report on Blue Shield of California.
Related Articles on Coding, Billing and Collections:
How to Determine When to Go In-Network vs. Out-of-Network
Medicaid to Stop Paying for Provider Preventable Events in July
Health Insurer WellPoint to Purchase CareMore
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
