Word: wellpoint
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Dates: during 2010-2019
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...that without a massive, federal overhaul of the health care system and insurance market, costs will continue to rise dramatically and unpredictably for consumers. In addition, Representative Henry Waxman, chairman of the House Committee on Energy and Commerce, has launched an investigation into Anthem Blue Cross's parent company, WellPoint, and asked it to provide everything from internal e-mails about rate increases to a complete accounting of expenses and claims data. A congressional hearing on the matter is scheduled...
...rates have to increase do make sense. In a bad economy, the people most likely to cancel their health insurance are healthy people; this leaves the remaining so-called risk pool less healthy, and therefore more expensive to insure. (Waxman, in a follow-up letter to WellPoint, asked the company to explain why data show that it had more individually insured customers in California in 2009 than in 2008. But it's not just the total number of customers that determines rates in a risk pool - the health of those customers also matters. It's also not surprising that more...