Oregon insurance: State followed law in approving Regence’s 26% rate hike

[forum_admin]

Oregon insurance officials followed proper procedures in approving a 25.6 percent rate hike requested by Regence BlueCross BlueShield of Oregon, an Oregon judge has ruled.

Administrative Law Judge Alison Green Webster rejected an appeal by policy holder Karen Kirsch that the April 11, 2008, decision to allow the dramatic increase for individual policies was excessive, inequitable, prejudicial to the interests of policy holders and unreasonable in relation to the benefits provided.

The case stems from the decision by the Insurance Administrator for the Department of Consumer and Business Services to approve an annualized 25.6 percent increase sought by Regence for its individual 2008 third quarter rate filing.

The rate increase was approved after numerous meetings and negotiations between regulators and the insurer, which said a lower increase would jeopardize the financial viability of its individual insurance lines.

The case centered on whether regulators were required to make written findings of facts in connection with their approval and if they applied the proper legal standards in reviewing the case.

The judge found for Regence on all counts in the decision, which was released Tuesday.

[maxjlone]

Thanks for info. Oregon insurance officials followed proper procedures in approving a 25.6 percent rate hike requested by Regence BlueCross BlueShield of Oregon, an Oregon judge has ruled. The rate increase was approved after numerous meetings and negotiations between regulators and the insurer, which said a lower increase would jeopardize the financial viability of its individual insurance lines.