Remember the math errors that led Anthem Blue Cross to have to withdraw its rate hikes of up to 39%?
As Duke Helfand of the LA Times reports, those errors were not found by some large firm in a big building with supercomputers humming, but by an individual consultant with a little help, working out of his home.
This only bolsters the argument that we need rate review and rate regulation, as soon as possible. A little bit of oversight goes a long way. It won’t take huge resources to set up the rate regulation as envisioned in bills like AB2578(Jones), but it is completely necessary.