Kilmartin Calls for Denial of Increase in Insurance Rates
Tuesday, May 25, 2010
Peter Kilmartin, a Democratic candidate for Attorney General, called on the state health insurance commissioner yesterday to turn down a request by Blue Cross Blue Shield for a double-digit raise in health insurance rates.
“In 2008, Blue Cross & Blue Shield of Rhode Island reported a $44 million profit, and a surplus of $412 million,” Kilmartin said. “Now, after reportedly losing $100 million in 2009, Blue Cross has the audacity to ask for yet another rate increase. We cannot allow companies in the Ocean State, especially those with non-profit status such as Blue Cross, to continually bolster their own bottom line at the expense (of) our hard-working families.”
