Rate Reduction for Some Small Businesses

State Insurance Commissioner, Dave Jones, announced on July 7^th that Anthem Blue Cross, Blue Shield, and Aetna are going to modify their small group rate hikes that went into effect on July 1^st.  The collective savings to small business is estimated to be $48 million on their health insurance premiums.

The actual savings are as follows.  Anthem Blue Cross withdrew a 2.5% rate hike saving $25 million for their 45,000 policy holders.  Blue Shield will reduce their rates by $15 million for some 58,000 policy holders and Aetna will reduce its rates by 1.3% saving $8 million for 9,200 policy holders.