NM BCBS Raises Rates on Consumers One Hour Before Public Meeting: 24% HIKE in Rates

NM Blue Cross Hikes Premiums Before Public HearingPosted:

April 27, 2010SANTA FE, N.M. --

Blue Cross and Blue Shield and the New Mexico insurance superintendent have signed off on a rate hike on insurance premiums, less than an hour before a state Public Regulation Commission hearing to hear opposition to the plan.Public Regulation Commissioner Jason Marks calls Monday's agreement a back room deal announced before the public had a chance to comment.

The hearing was called after a 24 percent increase in Blue Cross and Blue Shield premiums in December.

The revised rates allow the company to raise premiums by an average of 21 percent.A spokeswoman says that will affect 40,000 New Mexico customers.Read more: http://www.kfoxtv.com/news/23279227/detail.html