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Kaiser Has Biggest Piece Of State’s $53 Billion Insurance Market

Kaiser Permanente has 40 percent of California's lucrative health insurance market. A new report from Citigroup reveals Kaiser received more than $23 billion in premiums in 2011.

Aired 1/31/13 on KPBS News.

Kaiser Permanente has 40 percent of California's lucrative health insurance market.

The report shows that just five health insurers control 91 percent of California's market.

Kaiser had the biggest share of the state's $59 billion health insurance business. Second place went to Anthem Blue Cross, which had 23 percent of the pie.

Blue Shield of California earned third place, followed by Health Net and UnitedHealth Group.

These insurers will be the biggest players in California's new health insurance exchange. That's an online marketplace where consumers will be able to compare plans and apply for federal subsidies. The Affordable Care Act requires everyone to have health insurance beginning next year.

State officials say California's exchange will be launched in the fall.

Comments

Avatar for user 'RegularChristian'

RegularChristian | January 31, 2013 at 8:31 a.m. ― 1 year, 5 months ago

I sure hope our elected officials bring their "cojones" when it comes time to implementing Obamacare. I'm an individual plan "member" from Anthem Blue Cross and every year my premiums go up about 25% without fail and the benefits go down, way down. Obamacare offers hope that help is on the way.

I can't afford to do this much longer. For my sake, my family's sake, for others who are in a similar situation, and for those already priced out of the health insurance market, our elected officials need to implement the law to turn this "business" around. Health insurance is a risk pool, not a business. Profits should stay in the pool not be given out as dividends or compensation to senior executives to live lavish lifestyles.

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Avatar for user 'Missionaccomplished'

Missionaccomplished | January 31, 2013 at 11:42 a.m. ― 1 year, 5 months ago

My cost went up to $400 plus a month w/Kaiser

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Avatar for user 'RegularChristian'

RegularChristian | January 31, 2013 at 12:16 p.m. ― 1 year, 5 months ago

Wow! That has to be for a family.

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Avatar for user 'Missionaccomplished'

Missionaccomplished | January 31, 2013 at 12:29 p.m. ― 1 year, 5 months ago

Oligopoly. But wait, Inanity tells me we have the best health care system in the world!

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Avatar for user 'RegularChristian'

RegularChristian | January 31, 2013 at 1:24 p.m. ― 1 year, 5 months ago

Missionaccomplished, Did you write to the state insurance commissioner about it? He's trying to obtain the legislation to regulate these annual price increases. KPBS had a story about it a few months ago.

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