Ten Times the Rate of Inflation
February 09, 2010 9:14 AM
As we covered yesterday, the Obama administration is demanding answers from California's largest insurance company, Anthem Blue Cross, as to why the company is suddenly raising premiums on some customers by up to 39 percent -- more than 10 times the rate of inflation.
“I really can't afford to spend $9000 a year on health insurance,” said San Francisco attorney and Anthem Blue Cross insured Pamela Fasick.
Her premiums are going up 28 percent beginning March 1.
“I would hate to give up insurance at this point in my life, but I wouldn't be able to pay that money out of my income without going into debt,” she told ABC News in a segment that ran on this morning's Good Morning America: (MORE)