PORTLAND, Maine (AP) — Anthem Blue Cross and Blue Shield is asking a judge to overturn last year’s rejection of its request for an 18 percent rate increase.
Lawyers for Anthem and the state squared off Wednesday in Cumberland County Superior Court. Anthem contends there’s no legal precedent for reducing its rate increase to 10.9 percent, a level that provides no profit.
Assistant Attorney General Thomas Sturtevant said Maine’s insurance superintendent had to take into account not just what’s best for the company but what’s best for consumers as well.
Anthem Blue Cross and Blue Shield is seeking another big increase this year — 22.9 percent — for two individual coverage plans with a total of 11,066 ratepayers.