Anthem to appeal rate increase decision
Anthem is appealing a Superior Court ruling that upheld limiting the insurance company's premium hike to 10.9%.
A Maine Superior Court judge last month affirmed Insurance Superintendent Mila Kofman's decision to deny Anthem's requested 18.1% increase for individual policies in 2009, instead limiting it to 10.9%, according to Maine Public Broadcasting Network. Anthem is appealing that decision to the Maine Supreme Judicial Court, a move that Maine Attorney General Janet Mills says is not surprising. "I'm confident that the court will uphold [Kofman's] decision to not guarantee them a specific profit margin in the rate-setting for last year," she told MPBN.
Anthem earlier this year requested a separate 23% rate hike for about 11,000 of its individual policyholders beginning July 1, 2010. The Bureau of Insurance has not yet made a decision on that request.
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