Anthem Inc. (NYSE:ANTM), the second-largest US health insurer by market value, continues to take the blame for its unsatisfactory response in protecting its customers against the recent data breach, one of the biggest of all times. Almost ten US states sent a letter to Anthem on Tuesday, blaming the company for being too slow in informing its customers whose personal data was compromised after the attack by hackers.
President Barack Obama will promise a “year of action” in his State of the Union address Tuesday night as he pledges to restore the American dream to the country’s hard-pressed middle classes ahead of this year’s Congressional elections.
With personal approval ratings in the doldrums, the U.S. Congress controlled by Republican rivals to his Democratic party and his flagship health-care reforms still struggling, Mr. Obama will deliver the annual address in the face of strong political headwinds.
An investigation in California over dramatic health insurance increases is spurring a federal inquiry. Two congressional committees have asked executives from WellPoint, the parent company of Anthem Blue Cross of California, to explain why the company is raising premiums by as much as 39 percent for some customers.
His personal and political credibility on the line, President Barack Obama reversed course Thursday and said millions of Americans should be allowed to renew individual coverage plans now ticketed for cancellation under the health care law that is likely to be at the heart of the 2014 elections.
The immediate impact on consumers was unclear, though both industry spokesmen and state insurance commissioners swiftly warned that higher prices could result from the president’s rapid turnaround.
President Barack Obama on Thursday announced an administrative "fix" to the Affordable Care Act that will allow insurers to keep offering current plans for a year, even if they don't meet certain minimum requirements of the law.