Complaint / review text:
In 2007 cigna Hleath Insurance raised the rates of my group plan (TEIGIT) that comes out of New York. My fellow TEIGIT members got our rates raised by 57% (1022 a month for me) and under 50 about 200% a month. I have applied to several individual plans and gotten rejected due to pre-existing conditions.
I have always felt that the rate hikes were due to something wrong with CIGNA CORPORATION and possible stock fraud etc. So they raised the health insurance member rates to off set alleged stock fraud. I found out yesterday, since I own a few shares of CIGNA stock that Cigna had a class action suit filed against them for alleged misrepresntaion of their computer transformation system and alleged artificial stock inflation of common stock from Mov. 1,2001 to oct. 24,2002. There is a proposed settlement that CIGNA would have to pay out 93 million dollars to the people who lost money when they bought and sold common stock during 2001-2002.
Now I beleive that to offset the costs of their calss action suit and allegations of stock fraud and a propsed settlement that CIGNA Health Insurance then raised their rates in California and other states enormously. And I as well as other people are suffering.inother words to offset a loss of 93 million dollars Cigna corpororation is price -gouging consumers who have their helath insurance.
TEIGIT is a group opf guilds such as the Dramatist guild, people in entertainment and writing and not all of us are so succcessful that we can afford these Health insurance rate hikes. Do you hae an investigative journalist that would lookin to this matter? I now have to pay $3081 a quatrer for my health insurance premiums and I only make about $2600 a month from part-time work, diability payments and a friend renting a room in my house. And when ever I applied to any other health plan as an individual I got rejected due to pre-exisiting conditions which are not fatal or contagious. This includes AARP's Hospital advantage plan, Aetna, And Midwest life Insurance of Tennessee.
I have wasted valuable time and energy trying rto get on other health plans and I also applied to two government plans which took a lot of time and paperwork and I don't know if they will accept or reject me. The point is that I complained to every governemnt agency about this and today again complained ans asked them to investigate wheter or not the Class action law suit against CIGNA or the alleged stock fraud is realtred to these enormous rate hikes by CIGNA Helath insurance here in California. I call it pulling an Enron.
I am tired of complaining to govt. Agencies that do nothing and tired of the discrimination I get when I apply to private health incurance plans as an individual and I know I am not the only one in this boat.