It was found in an analysis of 10 of the plans' finances by Consumers Union that despite hitting consumers with double-digit premium increases, non-profit Blue Cross and Blue Shield health plans stockpiled billions of dollars during the past decade.

It is important for insurers to be ready with extra cash to help policyholders pay medical bills if such a situation arises. But it was seen that the money held by seven of the plans were more than three times the amount regulators consider the minimum needed to pay medical bills.

Report author Sondra Roberto said, "Consumers are struggling to afford health coverage. Those funds could be used in some cases to mitigate these rate increases."

State insurance regulators for scrutinizing surpluses has been called for by the report. This should be primarily done while setting maximum limits for surpluses and when considering rate increases.

Mostly what is seen is that companies have minimum surpluses to be financially sound.

Alissa Fox, a senior vice president at the Blue Cross and Blue Shield Association, said, "This is a dangerous time for regulators to limit health plans' surpluses because of great uncertainty about how insurance costs will change under the nation's new health law. It's a safety net."