Quick Read: CA Health Insurers Raising Rates up to 14%
In the face of rate increases, a consumer group is leading an effort to put a ballot measure before the voters in November. The measure would give the California insurance department authority over health insurance rate increases–in the same way the insurance department now has for home and auto insurance.
By Chad Terhune, Los Angeles Times California’s largest health insurers are raising average rates by about 8% to 14% for hundreds of thousands of consumers with individual coverage, outpacing the costs of overall medical care. The cost of goods and services associated with medical care grew just 3.6% over the last 12 months nationally, government figures show.