WA insurance commissioner rejects new Regence rate increase

From a news release our office issued this morning:

After several requests for additional information, Insurance Commissioner Mike Kreidler has formally rejected requests to change the rates of individual health plans offered by Regence BlueShield, Regence BlueShield of Oregon and Asuris NW Health (Regence).

The proposed rates were scheduled to take effect Jan. 1, 2011. Regence has the right to appeal the decision.

Regence BlueShield and Asuris requested 3.7 percent and Regence BlueShield of Oregon requested 4.9 percent.

“I’m disappointed and frustrated that I’ve had to take this step, but Regence’s policyholders are my top priority, said Kreidler. “They’re counting on me to review the rates and make sure they’re justified. Regence failed to make its case.”

See the link above for more information, including links to Regence's rates.