ST Alpha - "Why do you say BS? If multiple companies in CA are doing it, doesn't it suggest they have a shortfall at the moment?" (Reading a Post)

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In response to "SITWAP: Blue Shield of California seeks rate hikes of as much as 59% for individuals" by James Bond (aka Igor)

Why do you say BS? If multiple companies in CA are doing it, doesn't it suggest they have a shortfall at the moment?

Posted by TFox Jan 6 '11, 14:14

Its not great business to raise rates like that. Their members are not required to stay with them. Its not like they're just going to the ATM and saying "we'd like 59% more money next year".

Responses:

If all the companies are doing it... then where will the members go? Are you saying the new law sucks so BAD that companies need to raise their rates - James Bond (aka Igor) Jan 6, 14:17 13
- They just keep it up until no one can buy insurance any more, then the gov't has to step in and create a state run plan. Problem solved! -- nm - Mop (214 lbs) Jan 6, 14:59
- you think the 59% is all because of the law? there's no way. -- nm - TFox Jan 6, 14:18 11
  - They make it seem so. -- nm - James Bond (aka Igor) Jan 6, 14:20 10
    - They can claim it as their reason, but it's not. -- nm - Kim Pine Jan 6, 14:20 9
      - Yeah, they are just raising it because they want to. -- nm - James Bond (aka Igor) Jan 6, 14:22 8
        
        World reality #1: Insurance companies for fucking evil liars. -- nm - ty97 Jan 6, 14:25
        
        [deleted]
        
        it is scary how little you know about how this stuff works. -- nm - TFox Jan 6, 14:23 5
        
        So from 2009-2010 to 2011, they costs will go up 59%? -- nm - James Bond (aka Igor) Jan 6, 14:26 4
        
        Well first, your numbers are wrong. In aggregate, its not 59%. It's 30-35%. - TFox Jan 6, 14:30 1
        
        And to my second point, they state that right in the article. - TFox Jan 6, 14:33
        
        They'll tell you that. - Will Hunting Jan 6, 14:30 1
        
        yup. -- nm - Kim Pine Jan 6, 14:30

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Why do you say BS? If multiple companies in CA are doing it, doesn't it suggest they have a shortfall at the moment?

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