If you were told a bill was going to go up 59%, what would you do? Get rid of it? Yep, I would.
Blue Shield in California wants to raise premiums up to 59% in March for 193,000. Their explanation doesn't even make sense:
"our individual market medical costs are rising rapidly due to higher provider prices, increased utilization, and the fact that healthier people are dropping coverage during a bad economy."
So healthy people can't afford the rates and are dropping coverage so they are only insuring sick people. And their costs are going up. Where's the logic? So only the sickest people will keep the coverage. Healthy people will find insurance elsewhere. This is just another step on a downward spiral.
Insurance has to be for sick and healthy people - DOH! I think they just want to put themselves out of business or expect health care reform to kick in and solve the problem for them. Ridiculous is the word for them.