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News Release
1/31/2014
Posted by Carmen Balber
Santa Monica, CA – Anthem Blue Cross and its parent company WellPoint have given $12.9 million to defeat a California ballot initiative that would require health insurance companies to get approval for rate hikes, like the increase of up to 25% Anthem proposes for over 306,000 Californians on April 1. If approved on this November’s...
News Story
1/31/2014
Posted by Mark Reback
Up to 306,000 Californians with older, individual Anthem health insurance policies — unchanged by Obamacare — are subject to the rate increases. Thousands of Anthem Blue Cross individual customers with older insurance policies untouched by Obamacare are getting some jarring news: Their premiums are going up as much as 25%. These...
News Story
1/29/2014
Posted by Mark Reback
In my 20 years as a practicing oncologist, I have seen way too many of my vulnerable patients fall victim to our current health care system, which has become quite deleterious and very mischievous. In 2011, there were close to 2.5 million medical-related bankruptcies in the United States. Shockingly, 75 percent of these involved patients who...
News Release
7/24/2013
Posted by Mark Reback
Washington DC -- Health insurance giant WellPoint today announced a 24% profit increase in the 2nd quarter of 2013, as compared to last year, and the company's stock hit an all-time high of $90 per share on Wednesday. WellPoint reported it earned $800.1 million, or $2.64 per share, in the three months that ended June 30th, which is up about 24...
News Release
1/25/2013
Posted by Carmen Balber
Washington DC -- Health insurance giant Wellpoint today announced a 38% profit increase in the 4th quarter of 2012, as compared to last year, for a total $2.7 billion in net profits for 2012. The insurance company continues to pad its profits even as the growth of health care costs remains at record-low levels and the company is forcing double-...
News Release
11/28/2012
Posted by Carmen Balber
Santa Monica, CA – Anthem Blue Cross could owe big refund checks to 730,000 Californians if its proposed rate hikes of up to 25% are deemed excessive thanks to an initiative voters will consider on the 2014 ballot.   The ballot measure requires health insurance companies to get approval before raising rates and allows that refunds be...
News Story
11/28/2012
Posted by Daniel Palay
California's largest for-profit health insurer proposes an average rate hike of 18%, but some Anthem customers may see increase of as much as 25% in February.   California's largest for-profit health insurer, Anthem Blue Cross, is seeking to raise rates an average of 18% for more than 630,000 individual policyholders, drawing...
Blog Post
8/29/2012
Posted by Carmen Balber
Angela Braly was sacked as the head of health insurance giant Wellpoint yesterday - but not necessarily for the right reasons. Wall Street banks and billionaire investors complained about the company's profit margins and a slipping stock price. (Put that in perspective: Wellpoint had $13 billion in profits last year.) It’s an appropriate...
News Story
8/28/2012
Posted by Mark Reback
Complaints about WellPoint chief Angela Braly have intensified since last month's disappointing earnings news. The health insurer says recent deals Braly orchestrated put it on track for growth. Investors in health insurance giant WellPoint Inc., which runs Anthem Blue Cross in California, are pressing for a change in top management as...
Blog Post
5/7/2012
Posted by Daniel Palay
Two years ago, as federal health reform lay on death’s door, CEO Angela Braly, head of Blue Cross’s parent company Wellpoint, spit on beleaguered patients. She sat through poignant Congressional testimony from customers whose lives were being ruined by spiraling premium hikes, then Braly testified that the public outrage was "a...